Author Topic: Symantec Stock Plunges After Firm Announces Internal Probe  (Read 505 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 !!!!
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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:https://www.securityweek.com/symantec-stock-plunges-after-firm-announces-internal-probe
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