McAfee Corp. shares rose in the extended session Tuesday after the security software company’s quarterly results and outlook exceeded Wall Street expectations.
shares rose 3.6% after hours, following a 0.1% decline in the regular session to close at $19.45.
The company reported a fourth-quarter loss of $118 million, or 73 cents a share. Adjusted earnings, which exclude stock-based compensation expenses and other items, were 38 cents a share.
Revenue rose to $777 million from $682 million in the year-ago quarter. Consumer-based revenue rose 23% from a year ago to $426 million, while enterprise-based revenue rose 5% to $351 million from the year-ago quarter.
Analysts surveyed by FactSet had forecast 31 cents a share on revenue of $738.6 million.
For the March-ending quarter, McAfee forecast revenue of $725 million to $735 million. Analysts estimate revenue of $723.8 million.
Following its November report, Tuesday marked McAfee’s second quarterly earnings report since returning to public markets in October. Since then, shares have struggled to trade above their IPO pricing of $20.