Symantec Forecast Misses Estimates as Consumer Demand Dips

Symantec Corp., the biggest maker of computer security software, forecast lower sales and profit than analysts predicted, evidence that a slump in personal computer buying is crimping demand for programs to repel malware attacks.

Profit excluding certain items will be 41 cents to 42 cents a share in the fiscal fourth quarter, Mountain View, California-based Symantec said today in a statement. Sales in the current period will rise to $1.72 billion to $1.73 billion. That fell short of 43 cents in profit and sales of $1.75 billion, the average estimates in a Bloomberg survey of analysts. The company also approved $1 billion in share repurchases.