McAfee Testing The Stock Markets Again

Photo Credit: Pete Linforth from Pixabay

Earlier this week McAfee (Nasdaq: MCFE) reported its third-quarter results that continued to surpass all market expectations. The recent cyber breach has been a boon to cybersecurity players. McAfee is also cashing in on the surge.

McAfee’s Financials

Revenues for the quarter grew 10% to $728 million, ahead of the market’s forecast by 0.7%. It was a breakeven quarter for McAfee compared with a loss of $0.02 per share a year ago. The market was looking for an EPS of $0.36.

By segment, revenues from the Consumer segment grew 23% to $395 million and Enterprise revenues were $333 million. Core Enterprise customers accounted for more than 80% of total Enterprise revenues.

For the current quarter, McAfee forecast revenues of $731-$742 million. The market was looking for revenues of $728 million for the quarter with an EPS of $0.31.

McAfee’s Expanding Partnerships

Recently, McAfee announced an extended five-year global agreement with ASUS. As part of the agreement, McAfee has become the provider of consumer security on ASUS PCs. All ASUS PCs now come pre-installed with a comprehensive security service, an optimized user experience, security tips, and recommendations on how to stay protected from new threats.

It also announced AWS integrations with its MVISION CNAPP service. The integration will help customers easily secure their applications and data in IaaS and PaaS environments. MVISION CNAPP assists customers by continuously identifying and fixing misconfigurations and software vulnerabilities in the AWS environment as well as securely accelerating the deployment of their cloud-native applications. MVISSION CNAPP provides security teams insight into service configurations for AWS as well as industry benchmarks allowing better assessments for their data and application security risk. Its integrated workload protection tools assist in improving the security across the complete application lifecycle. It has also been integrated with AWS deployment services including AW Systems Manager and AWS PrivateLink for easy and secure deployment.

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Disclosure: All investors should make their own assessments based on their own research, informed interpretations and risk appetite. This article expresses my own opinions based on my own ...

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