McAfee stock rises as earnings, outlook top Street view

McAfee stock rises as earnings, outlook top Street view

McAfee Corp. shares rose in the extended session Tuesday after the security software company’s quarterly results and outlook exceeded Wall Street expectations.

McAfee MCFE, +3.34% shares rose 3.6% after hours, following a 0.1% decline in the regular session to close at $19.45.

The company reported a fourth-quarter loss of $118 million, or 73 cents a share. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 38 cents a share.

Revenue rose to $777 million from $682 million in the year-ago quarter. Consumer-based revenue rose 23% from a year ago to $426 million, while enterprise-based revenue rose 5% to $351 million from the year-ago quarter.

Analysts surveyed by FactSet had forecast 31 cents a share on revenue of $738.6 million.

For the March-ending quarter, McAfee forecast revenue of $725 million to $735 million. Analysts estimate revenue of $723.8 million.

Following its November report, Tuesday marked McAfee’s second quarterly earnings report since returning to public markets in October. Since then, shares have struggled to trade above their IPO pricing of $20.

error: Content is protected !!