MCFE - McAfee grows revenue 10% breaks even in first post-IPO print; shares drop 3%

McAfee (MCFE) shares decline 3.4% AH after Q3 results that featured 10% Y/Y revenue growth to $728M and breakeven net income.In the Consumer segment, revenue increased 23% Y/Y to $395M. Core DTC subscribers grew 16% on the year to total 17.3M.Adjusted EBITDA was up 26% to $265M."At McAfee, we are committed to driving shareholder value by generating double-digit revenue growth at scale in our Consumer business, growing profitability across both of our segments, and driving solid Unlevered Free Cash Flow. We have also announced our intentions to pay out a quarterly dividend to our new public shareholders and are targeting a longer-term leverage ratio below 3x of net debt to Adjusted EBITDA," says CFO Venkat Bhamidipati.For Q4, the company forecasts $732-742M in revenue and adjusted EBITDA of $254-264M.Press release.

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McAfee grows revenue 10%, breaks even in first post-IPO print; shares drop 3%