Symantec Corp. declined 25 percent after the company projected revenue and profit in the current quarter that will fall short of analyst predictions and disclosed an internal investigation into an unspecified matter.
The world’s No. 1 maker of cybersecurity software said fiscal first-quarter profit will be 31 cents to 35 cents per share, compared with an estimate of 41 cents, according to data compiled by Bloomberg. Revenue will be $1.14 billion to $1.17 billion, the Mountain View, California-based company said Thursday in a statement. Analysts projected $1.19 billion. Shares dropped to a low of $21.40 in early trading Friday after closing at $29.18 in New York.
Symantec also said the audit committee of its board is investigating “concerns raised by a former employee,”…
