=Symantec (SYMC) reported earnings on Thur 10 May 2018 (a/h)

Symantec beats by $0.07, beats on revs; guides Q1 EPS and rev below consensus; guides FY19 EPS and rev below consensus; Board commences internal investigation

• Reports Q4 (Mar) earnings of $0.46 per share, excluding non-recurring items, $0.07 better thanthe Capital IQ Consensus of $0.39; revenues rose 4.9% year/year to $1.23 bln vs the $1.19 bln Capital IQ Consensus.
• Co issues downside guidance for Q1, sees EPS of $0.31-0.35, excluding non-recurring items, vs. $0.41 Capital IQ Consensus Estimate; sees Q1 revs of $1.135-1.165 bln vs. $1.18 bln Capital IQ Consensus Estimate.
• Co issues downside guidance for FY19, sees EPS of $1.50-1.65, excluding non-recurring items, vs. $1.80 Capital IQ Consensus Estimate; sees FY19 revs of $4.76-4.90 bln vs. $4.94 bln Capital IQ Consensus Estimate.
• The Audit Committee of the Board of Directors has commenced an internal investigation in connection with concerns raised by a former employee. The Audit Committee has retained independent counsel and other advisors to assist it in its investigation. The Company has voluntarily contacted the Securities and Exchange Commission to advise it that an internal investigation is underway, and the Audit Committee intends to provide additional information to the SEC as the investigation proceeds. The investigation is in its early stages and the Company cannot predict the duration or outcome of the investigation. The Company's financial results and guidance may be subject to change based on the outcome of the Audit Committee investigation. It is unlikely that the investigation will be completed in time for the Company to file its annual report on Form 10-K for the fiscal year ended March 30, 2018 in a timely manner.