Symantec grows through server and storage management
Sales at security specialist Symantec are being driven by data management and storage products. While consumers know the company primarily through its Norton anti-virus products, its biggest division is now its server and storage management business.
Sales in this part of the business, over the third quarter to December, increased by 8% to approximately $666 million (€500 million) and it now accounts for 37% of the company's revenue. Symantec's Consumer business accounts for 30% of the revenue, Security and Compliance 29%, and Services 4%. According to a Wednesday press release, overall sales increased by 4.4% to $1.79 billion. At the same time net profits fell by 12% to $212 million.
Symantec has also announced that CEO Steve Bennett will cease to chair the executive board. He will be replaced as chairman by Dan Schulman, who has previously worked in the mobile phone sector.