NortonLifeLock beats Q4 earnings targets

The antivirus vendor reported revenue of $614 million.
Written by Natalie Gagliordi, Contributor

Antivirus vendor NortonLifeLock delivered better-than-expected fourth quarter financial results on Thursday. The company reported Q4 non-GAAP earnings of 26 cents per share on revenue of $614 million, down from $617 million a year ago.

Wall Street was expecting earnings of 19 cents per share on revenue of $601.3 million. 

The company said consumer revenue was $610 million, up 1% year-over-year. Average revenue per user was $9.07, up 3% year-over-year. NortonLifeLock returned $9 billion to investors during the quarter.

"In only our second quarter as NortonLifeLock, we drove better than expected results on both the top and bottom lines as we turned our focus to driving sustainable growth," said Vincent Pilette, CEO of NortonLifeLock. "With consumer bookings up 4% year-over-year and another quarter of sequential customer growth, consumers are seeing the value we provide in protecting their digital lives as they live more and more online. I am extremely proud of how we supported our customers during this COVID-19 crisis and how we are laying the foundation for long term growth."

For the current quarter, analysts expect NortonLifeLock to report earnings of 20 cents per share on revenue of $608.4 million. The company responded with Q1 EPS guidance in the range of 18 cents to 20 cents, with revenue between $590 million and $605 million.

Shares of NortonLifeLock were up nearly 4% after hours. 

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