By Maria Armental
NortonLifeLock Inc., the former Symantec Corp., reported second-quarter results Thursday. Here's what you need to know:
PROFIT: The company swung to a profit of $785 million, or $1.22 a share, from a loss of $8 million, or a penny a share, a year earlier. On an adjusted basis, profit rose to 18 cents a share from 15 cents a share a year earlier.
REVENUE: Revenue declined to $608 million, from $612 million a year earlier.
COMBINED OPERATIONS: Including the enterprise security business revenue, adjusted profit rose to 46 cents a share, beating the company's guidance and analysts' expectations, and revenue rose to $1.19 billion, compared with analysts' projected $1.18 billion and the company's guidance of $1.16 billion to $1.21 billion.
The sale of the enterprise security business and transfer of the Symantec brand to Broadcom Inc. closed on Nov. 4.
OUTLOOK: This quarter, the company expects to generate a profit of 5 cents to 10 cents a share on an adjusted basis, and $602 million to $612 million in revenue.
CEO: Vincent Pilette, who joined the company in May as chief financial officer, has been promoted to chief executive. Chief Accounting Officer Matthew Brown has been appointed interim CFO.
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