NortonLifeLock adds 334,000 customers in one quarter

The company reported a direct customer count of 21 million in Q3, with nearly 60 percent of customers using Norton 360.
Written by Stephanie Condon, Senior Writer

Growing awareness of the importance of digital security is driving customer growth for NortonLifeLock, the company said Thursday. In its third quarter financial results, the company reported a direct customer count of 21 million, up by 876,000 year-over-year and by 334,000 quarter-over-quarter. 

"Our vision to protect and empower everyone to live their digital lives safely has never been more relevant than it is today," CEO Vincent Pilette said in a statement. "Consumers are seeing the value of Cyber Safety with nearly 60% of our customers using Norton 360. We are accelerating our investments in new products and customer experiences that are driving our growth momentum, and with the Avira acquisition, we are just getting started."

NortonLifeLock's non-GAAP diluted EPS was 38 cents on revenue of $639 million, up 3 percent.

Analysts were expecting earnings of 37 cents per share on revenue of $630.53 million.

Consumer reported billings in the quarter came to $700 million, up 10 percent. Average revenue per user was $9.10 per month, up 1 percent. 

NortonLifeLock also said its board of directors has declared a quarterly cash dividend of $0.125 per common share to be paid on March 17.

For the fourth quarter, the company is expecting revenue in the range of $655 million to $665 million.

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