Symantec posts record revenue growth for third quarter

Security software vendor Symantec reports revenue growth of 29% for the third financial quarter, with international markets driving the growth

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By  Mark Sutton Published  January 19, 2003

Symantec has posted record revenue growth for the quarter ended December 31 2002, with international growth cited as a key reason for the results. Revenue for the quarter was up 29% from the same period one year ago, to $376 million, with all regions reporting double-digit growth, according to a company statement.

Revenue in the EMEA region grew by 46%, the second best performing region for the software vendor, with Latin America leading sales growth with a 51% rise, Japan up 31%, Asia Pacific up 28% and the US up by 21%.

“We continue to see traction across the breadth of our enterprise security solutions with double digit growth in anti virus, firewall/VPN and vulnerability management sales and more than 200% growth in our services business,” said John W Thompson, chairman and CEO of Symantec. “In addition our consumer business continues to overachieve and for the first time in the history of the company, international revenues surpassed domestic revenue.”

Symantec continues to be strong in the consumer market, with revenues from this segment contributing 42% of the company’s totals. For enterprise level products, firewall/VPN sales were up 49%, anti virus grew 25% and vulnerability management grew 20%.

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