Symantec lowers earnings forecast by 30%

Symantec downgraded its earnings forecast by 30% from original expectation of 62-67 US cents to 39-47 US cents per share. The company explained that due to the reduction in security software expense from the clients and small enterprises, the turnover may be reduced from the original expectation of US$255-263 mln to US$225-235 mln.

Chairman and CEO John Thompson said that except business reduction, the profit in overseas markets was also hurt but believed that the second-half business would be improved.

Related stock : (NIL)