A day after Symantec’s earnings bombed, smaller rival McAfee reported a mixed second quarter. McAfee also acquired mobile security company tenCube, which provides a suite called WaveSecure that allows you to locate, lock, back-up and wipe mobile devices. McAfee’s results were better-than-expected on the bottom line, but revenue was light relative to Wall Street expectations. The results come a day after Symantec’s earnings and outlook disappointed investors. The company reported net income of $39.4 million, or 25 cents a share, on revenue of $495.3 million, up 6 percent from a year ago. Non-GAAP earnings were 63 cents a share. Wall Street was expecting McAfee to report earnings of 59 cents a share on revenue of $507.4 million. McAfee’s outlook for the third quarter was also a bit light. The company projected third quarter earnings of 62 cents a share to 66 cents a share on a non-GAAP basis. Revenue for the quarter will be $505 million to $520 million. Wall Street was expecting earnings of 64 cents a share on revenue of $522.7 million. McAfee CEO Dave DeWalt said in a statement that the company had solid consumer and corporate bookings. McAfee reported second quarter enterprise revenue of $298 million,… Read full this story
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