Symantec Forecast Tops Estimates, Helped by Cloud Computing
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Symantec Corp., the world’s largest security-software maker, forecast higher revenue than analysts predicted, bolstered by demand for data backup cloud-computing programs, and the effect of a weaker dollar on overseas sales.
Revenue in the fiscal first quarter, which ends July 1, will be $1.57 billion to $1.59 billion, Symantec said today in a statement. Analysts had estimated $1.55 billion on average, according to data compiled by Bloomberg.