Symantec names new interim CEO, CFO, delivers mixed Q4 and weak Q1 outlook

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Symantec has a new CEO and CFO as its fourth quarter results were roughly in line with estimates, but the first quarter outlook was below expectations. Symantec said that its enterprise security unit delivered weaker than expected sales.

For the first quarter, Symantec said it is expecting revenue between $1.71 billion and $1.2 billion with non-GAAP earnings of 30 cents a share to 34 cents a share. Wall Street was looking for first quarter revenue of $1.2 billion with non-GAAP earnings of 40 cents a share.

Symantec projected revenue of $4.75 billion to $4.89 billion with non-GAAP earnings of $1.65 a share to $1.80 a share for fiscal 2020.   

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