Author Topic: Symantec Stock Plunges After Firm Announces Internal Probe  (Read 802 times)

Offline Antus67

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****NOTE****  This is a thread to keep a eye on as Symantec is having problems and cause not clear yet !!!!

By Eduard Kovacs on May 11, 2018

while its revenue has increased, the cybersecurity firm’s stock dropped roughly 20% after it revealed that an internal investigation will likely delay its annual report to the U.S. Securities and Exchange Commission (SEC).

Symantec reported a Q4 GAAP revenue of $1.22 billion, which represents a 10% year-over-year increase, and $1.23 billion in non-GAAP revenue, an increase of 5% year-over-year.

As for the full fiscal year ended on March 30, GAAP revenue increased by 21% year-over-year to $4.84 billion, while non-GAAP revenue went up 19% to nearly $5 billion. The company said it had a cash flow of $950 million from operating activities for the fiscal year 2018.

Few details have been made public by the company, but the probe was apparently triggered by concerns raised by a former employee. Symantec management did not share any additional details and canceled the “Q&A” part of its earnings call.

full article here:
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