Symantec's Consumer Business Led Way in Q3

IT security company Symantec reports a jump in its consumer business in the fiscal third quarter.

Symantec reported $1.551 billion in revenues in the third quarter of fiscal 2010, due in part to growth in its consumer business.

The company reported GAAP net income of $300 million for the quarter, compared with a $6.82 billion loss for the same quarter the previous year. About 31 percent of the revenues came from Symantec's consumer segment, which was up 7 percent compared with the same period last year (3 percent after adjusting for currency).

Symantec's other business units saw declines after currency adjustments-the security and compliance segment dropped 2 percent year-over-year, the storage and server management business declined 8 percent, and the company's services segment fell 5 percent.

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"Our consumer business, with its market-leading solutions and diverse go-to-market channels, continued to show strong momentum," Symantec President and CEO Enrique Salem said in a statement. "Our security and compliance business contributed to the better-than-expected results, driven by our ability to sell multiple security products to our customers. In addition, our hosted services, data loss prevention and compliance solutions performed well."

International revenue represented 51 percent of company revenues in the quarter, a year-over-year increase of 3 percent (5 percent after adjusting for currency). Revenues from the Asia Pacific and Japan region jumped 11 percent year over year (a 5 percent increase after currency adjustments) while the Americas declined 2 percent both before and after adjusting for currency.