Symantec: Antivirus is lost cause
Troubled cybersec firm turns to advanced protection solutions in turnaround plan
A senior Symantec executive has declared that the company can no longer make money from antivirus software, The Wall Street Journal reported this week.
"We don't think of antivirus as a moneymaker in any way," said Brian Dye, senior vice president, Information Security, Symantec, who went on to classify the software proposition as "dead".
Dye is spearheading a change in focus at Symantec that reflects that of rivals across the cyber security industry as solutions vendors struggle to meet the challenge of ballooning malware incidents. Instead of applying the age-old stop-gap measure of anti-virus, many solutions now assume a breach, and work towards damage mitigation.
This week Symantec will seek to apply that approach as part of a turnaround strategy. It has seen two straight quarters of revenue decline, but cost-cutting measures have allowed profits to grow. Symantec previously submitted a revenue forecast range of $1.62bn to $1.66bn for the first quarter of this year, which represented a 5% year-on-year decrease.Actual results will be announced tomorrow.
In March Steve Bennett became the second Symantec CEO to be fired in two years.