Symantec Corp., the largest maker of computer-security software, forecast higher profit and sales than analysts predicted as businesses boost spending to defend their systems amid a recent spate of threats.
Profit excluding some costs will be 38 cents to 39 cents a share in the fiscal second quarter ending in September, Mountain View, California-based Symantec said today in a statement. That compares with the 38-cent average estimate of analysts, according to Bloomberg data. Sales will be $1.66 billion to $1.68 billion, above the consensus of $1.61 billion.
Corporate spending on data security is increasing amid a rash of hacking attacks, including breaches of Sony Corp.?s PlayStation network and EMC Corp.?s RSA Security unit. ?The threat landscape is more toxic than ever,? Symantec Chief Executive Officer Enrique Salem said on a conference call with analysts. ?That is driving people coming to us.?
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