NortonLifeLock Narrows FY22 Outlook To High-End

While reporting its results for the third quarter on Thursday, NortonLifeLock Inc. (NLOK) narrowed its full-year 2022 guidance to the high end.

The company now expects revenues in the range of $2.795 billion to $2.805 billion, translating to approximately 10% growth YoY in constant currency, this compares to prior outlook of revenue growth of 8 to 10%.

The company now expects adjusted earnings to be in the range of $1.73 to $1.75 per share, compared to prior outlook of $1.65 to $1.75 per share.

Analysts polled by Thomson Reuters currently estimate earnings of $1.74 per share on revenue growth of 5.70%.

NortonLifeLock also provided an update on its merger with Avast. The company said it believes that it is possible to accelerate the timeline for closing of the merger from the original expectation of mid-calendar year 2022. The company currently expects to close the merger by February 24, 2022.

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