Internet security firm Symantec has issued a sales and profits warning - and seen its share price fall by 8%.
The firm, which fears that its share of the anti-virus and general security software market could be affected by new rival products from Microsoft, has cut its full-year targets after warning of a weak third quarter.
By submitting your email address, you agree to receive emails regarding relevant topic offers from TechTarget and its partners. You can withdraw your consent at any time. Contact TechTarget at 275 Grove Street, Newton, MA.
Symantec said weak sales and higher costs would lead to net profits coming in at between 10 and 11 cents a share, for the third quarter ending 29 December. The previous company forecast had been for 14 to 15 cents.
As a result, Symantec forecast that full-year profits would be between 36 and 39 cents a share, down from the 46 to 56 cents previously estimated.
The firm also estimated that third-quarter sales might be as low as $1.29bn (£678m), compared with the $1.35bn forecast.
Final results for the third quarter will be released on 24 January.
Comment on this article: firstname.lastname@example.org