NortonLifeLock Earnings: NLOK Stock Jumps 4% on Strong Q4 Beat

NLOK beat out EPS and revenue estimates

NortonLifeLock (NASDAQ:NLOK) earnings for the software security company’s fiscal fourth quarter of 2020 have NLOK moving higher after-hours Thursday. That’s due to its adjusted earnings per share of 26 cents coming in above Wall Street’s estimate of 19 cents. Its revenue of $614 million also beats out analysts’ estimates of $601.3 million.

NortonLifeLock Earnings: NLOK Stock Jumps 4% on Strong Q4 Beat
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Here are some additional highlights from the most recent NortonLifeLock earnings report.

  • Adjusted per-share earnings are up 63% from the 16 cents reported during the same time last year.
  • Revenue for the quarter is down less than 1% compared to $617 million in the first quarter of 2019.
  • Operating income of $44 million is a 38.9% decline year-over-year from $72 million.
  • The NortonLifeLock earnings report also has it bringing in a net income of $231 million.
  • That’s a 579.4% increase from its net income of $34 million reported in the same period of the year prior.

Vincent Pilette, CEO of NortonLifeLock, said this in the current earnings report.

“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. 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.”

NortonLifeLock provides guidance for its fiscal first quarter of 2021 in the earnings report. It expects adjusted earnings per share of 18 cents to 22 cents on revenue of $590 to $605 million. For comparison, Wall Street is estimating adjusted EPS of 20 cents on revenue of $608.42 million for the quarter.

NLOK stock was up 3.7% after markets closed on Thursday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/05/nortonlifelock-earnings-jump-nlok-stock-up/.

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