Download our in-depth report: The Ultimate Guide to IT Security VendorsMcAfee and Symantec posted results after the close on Thursday that showed that demand for security remains strong.
McAfee reported pro forma earnings of 31 cents a share, 6 cents ahead of estimates, and sales rose 32% to $245.4 million, also well above forecasts.
Shares of McAfee climbed 2% after hours on top of a 2.6% gain during the day.
Symantec reported earnings of 27 cents a share, up from 16 cents in the year-ago quarter and in line with forecasts. Revenues rose 27% to $700 million, but that was slightly below analysts' estimates.https://o1.qnsr.com/log/p.gif?;n=203;c=204650394;s=9477;x=7936;f=201801171506010;u=j;z=TIMESTAMP;a=20392931;e=i Symantec also reported results from storage software maker Veritas, which the company acquired July 2. Veritas' sales rose 9% to $529 million. The results were not included in Symantec's numbers because the merger closed after the quarter ended. Investors and analysts have fretted about Symantec acquiring the slower-growing Veritas, but Symantec CEO John Thompson remained upbeat.
''Symantec's success in the quarter was paralleled by equally strong performance by Veritas,'' Thompson said in a statement. ''Our results demonstrate the team's success in balancing merger-related activities with a continued focus on execution.''
Symantec shares lost 3% after hours.
The broader market rose on strong earnings reports from the likes of Starbucks and optimism ahead of Friday's second-quarter GDP report. Economists anticipate that the economy grew at a 3.5% clip in the quarter and that inflation was modest at 2.6%.
The Nasdaq rose 12 to 2198, the S&P climbed 7 to 1243, and the Dow rose 68 to 10,705. Volume rose to 2.04 billion shares on the NYSE, but declined to 1.74 billion on the Nasdaq. Advancers led 24-8 on the NYSE, and 19-11 on the Nasdaq. Upside volume was 72% on the NYSE, and 61% on the Nasdaq. New highs-new lows were 417-38 on the NYSE, and 227-19 on the Nasdaq.
CA fell 7% on in-line results and layoffs.
Iron Mountain surged 12% on strong results, and Digital River jumped 14% after beating estimates.
LSI and AMCC fell on their results.
This article was first published on internetnews.com.