Symantec’s Enterprise Security segment continues to grow
So far in this series, we’ve discussed Symantec’s (SYMC) recent acquisition of LifeLock and how it could boost its struggling Consumer Security segment. Let’s see how Symantec’s Enterprise Security segment fared in fiscal 2Q17.
Symantec’s enterprise security segment contributed 60% of the company’s overall revenue in 2Q17. This segment’s non-GAAP (generally accepted accounting principles) revenue grew 24% to $610 million. While endpoint security in this segment grew in the low single digits, user authentication grew in the double digits.
With Blue Coat now under its umbrella, Symantec’s Enterprise Security segment got a boost, as expected. This segment’s fiscal 2Q17 revenue includes a two-month contribution from Blue Coat Systems. Now, Symantec can offer a comprehensive enterprise suite of offerings for email, cloud, endpoint, and network security. Later in this series, we’ll discuss the integration and new product launches associated with the Blue Coat Systems acquisition.
In fiscal 2Q17, Symantec launched SEP (Symantec Endpoint Protection) 14. The next-generation endpoint security offering combines conventional and next-generation functionalities such as machine learning and zero-day exploit prevention.
Symantec also launched SEP Cloud, a cloud version of the company’s endpoint protection. Enterprise Strategy Group senior analyst Doug Cahill said, “Symantec’s SEP Cloud brings to bear a rich set of features, including advanced threat prevention capabilities, delivered efficiently from the cloud, representing a solution that organizations seeking efficacy and efficiency should consider.”
Symantec is a leader in endpoint security
As the above presentation shows, Symantec was named a leader in Endpoint Security Suites in 4Q16. According to Forrester Research, “Symantec offers the most complete endpoint security suite on the market.” IBM (IBM), Intel Security (INTC), and Palo Alto Networks (PANW) are some other prominent players recognized by Forrester Research.