Symantec Posts Solid Earnings Beat (SYMC)

Symantec Corporation (

) reports Q2 earnings of $0.34 versus consensus of $0.28. Symantec Corporation reports revenues of $1.48 billion versus consensus of $1.46 billion. Operating margin was 25.1%. For the third quarter of fiscal year 2011, ending Dec. 31, 2010, revenue is estimated between $1.57 billion and $1.59 billion, up 2% to 3%year-over-year and up 3 to 4 percent after adjusting for currency. Non-GAAP diluted earnings per share are estimated between $0.32 and $0.33. "I am pleased with the execution in the quarter, in particular the strong performance in backup and archiving and continued momentum in hosted services and data loss prevention. In addition, we saw growth in the public sector, driven by strength across all product lines in both the civilian and defense agencies," said Enrique Salem, president and chief executive officer, Symantec. "We're making good progress integrating the VeriSign security business, PGP and GuardianEdge into the Symantec portfolio and all three acquisitions performed better than expected in the quarter." Shares of SYMC are trading higher in the after-hours by 6.96%.