MCFE - McAfee shares slide after reporting Q1 earnings

Cybersecurity pioneer McAfee (MCFE) slides 4.6% after the company reported first quarter results. The company sold its Enterprise Business to Symphony Technology Group last month and presents the enterprise results as discontinued operations and the remaining business as continuing operations. Consensus estimates, which include the Enterprise Business, aren't directly comparable.For Q1 under continuing operations, McAfee reports a 25% Y/Y growth in net revenue to $442M.Adjusted EBITDA was $199M for a 45% adjusted EBITDA margin.Combining the continuing and discontinued operations, net revenue was up 13% to $773M and adjusted EBITDA totaled $316M with a 41% adjusted EBITDA margin.“Continued strong demand for our consumer security offerings in the quarter, along with our laser focus on operational discipline, resulted in 25% year-over-year growth in Adjusted EBITDA and 35% year-over-year growth in unlevered free cash flow generation," says CFO Venkat Bhamidipati, referring to the combined results.For continuing operations in the June quarter, McAfee guides for net revenue of $430-434M

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McAfee shares slide after reporting Q1 earnings