JOBS - Today's Research Reports on Stocks to Watch: 51job and Symantec
NEW YORK, NY / ACCESSWIRE / August 6, 2018 / It was a day of red for both 51job, Inc. and Symantec Corporation on Friday as both companies reported financial results. Both companies reported dismal outlooks.
RDI Initiates Coverage on:
51job, Inc.
https://rdinvesting.com/news/?ticker=JOBS
Symantec Corporation
https://rdinvesting.com/news/?ticker=SYMC
51job, Inc. shares closed down a little over 17% on Friday, with about 975,000 shares traded. The Chinese online recruiting leader announced mixed second-quarter 2018 results and dismal guidance looking forward. For the second quarter, revenue jumped 33% year over year, to $135.3 million. Adjusted net income was $54.2 million, or $0.82 per share. Analysts had been waiting for earnings of $0.65 per share on higher revenue of $138.8 million. CEO Rick Yan stated, "With clear focus and purpose, we continued to solidly execute our high-quality growth strategy. Our online business maintained an uptrend in revenue per employer as we successfully drove greater spending by existing, more sophisticated customers and worked through increased prices on certain entry-level online packages among new, smaller sized customers." For the third quarter, the company expects revenue ranging from $136.8 million to $141.3 million, and adjusted earnings per share of $0.56 to $0.60. Analysts were expecting earnings of $0.69 per share on revenue of $150.1 million.
Access RDI's 51job, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=JOBS
Symantec Corporation shares were down 7.81% at the end of the trading day on Friday on skyrocket trading volume compared to usual. The stock closed the day with 48.6 million shares traded compared to an average trading volume of around 11.4 million shares. The software maker saw its shares fall after it said billings from business customers fell short of its projections in the first quarter and offered a lowered guidance for fiscal 2019. Starting this quarter, Symantec adopted the new revenue recognition accounting standard, ASC 606. The comparisons with the year-ago quarter are in compliance with ASC 505. The company also lowered its forecasts. Symantec reported first-quarter fiscal 2019 non-GAAP earnings of 34 cents per share, beating analysts’ estimates by a penny. Under ASC 605, the figure was 33 cents this quarter, flat year over year. On a non-GAAP basis, revenues of $1.165 billion beat estimates of $1.149 billion. Under ASC 605, the figure was $1.175 billion, down 5.5% from the year-ago quarter. For fiscal 2019, the company has reduced its guidance and now expects non-GAAP revenues in the range of $4.670-$4.790 billion compared with earlier guided range of $4.760-$4.900 billion. Non-GAAP operating margin is projected to be 30% compared with the earlier projection of 30-32%, while Non-GAAP earnings per share are anticipated to be in the range of $1.47 to $1.57 compared with $1.50-$1.65 projected earlier.
Access RDI's Symantec Corporation Research Report at:
https://rdinvesting.com/news/?ticker=SYMC
Our Actionable Research on 51job, Inc. (NASDAQ: JOBS) and Symantec Corporation (NASDAQ: SYMC) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com