Cybersecurity Sector Rallies on Stronger-Than-Expected Earnings

Let’s check out the earnings of some of the cyber security firms that have the largest allocation to the ETFs in this niche area of the technology sector:

Cybersecurity Earnings in Focus

Fortinet (FTNT – Free Report) posted earnings per share of 59 cents and revenues of $507 million, easily topping the Zacks Consensus Estimate of 51 cents and $496 million, respectively. On a year-over-year basis, earnings increased from 32 cents in the year-ago quarter while revenues were up 22%. The company projects revenues in the range of $465-$475 million and earnings per share of 37-39 cents for the ongoing first quarter. For 2019, it guided revenues in the range of $2.06-$2.10 billion and earnings per share in the range of $2.05-$2.10.

Symantec’s (SYMC – Free Report) earnings per share came in at 44 cents, topping the Zacks Consensus Estimate of 39 cents but down from the year-ago quarter figure of 49 cents. Revenues of $1.22 billion grew 0.7% year over year and outpaced the consensus mark of $1.18 billion. For the fourth quarter of fiscal 2019, the company expects revenues in the range of $1.19-$1.22 billion and earnings per share in the range of 37-41 cents. For the full fiscal year, Symantec raised its revenue guidance range from $4.67-$4.79 billion to $4.76-$4.79 billion and EPS guidance from $1.47-$1.57 to $1.57-$1.61 (see: all the Technology ETFs here). more

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