Symantec Profit Rises As It Signs More Big Deals

Symantec , the largest maker of computer security and data backup software, reported higher quarterly profit Wednesday, beating Wall Street expectations, as it signed more large contracts. It also said it may beat analysts' profit forecasts for the current quarter, which ends Oct. 3, helping to send its shares up 4.5 percent. "We have good visibility and a strong pipeline coming into the quarter," Chief Executive John Thompson said in an interview.

Symantec expects to report profit excluding items of 34 cents to 36 cents per share in its current fiscal second quarter. Analysts expect it to report profit of 34 cents, according to Reuters Estimates. The company's sales are benefiting from recent changes to the way its sales force approaches business customers, cross- selling security products with data backup programs and storage software.

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