Reuters: Technology News: Symantec third-quarter profit beats Street, splits chairman, CEO jobs

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Symantec third-quarter profit beats Street, splits chairman, CEO jobs Jan 23rd 2013, 14:04 SAN FRANCISCO | Wed Jan 23, 2013 9:04am EST SAN FRANCISCO (Reuters) - Symantec Corp beat earnings expectations and said it is splitting the chief executive and chairman jobs ahead of a Wednesday meeting to unveil a new strategy it hopes will end years of investor disappointment. Symantec, the maker of Norton anti-virus software, reported profit of 45 cents per share, excluding items, for its fiscal third quarter ended December 28. That topped the average analyst estimate of 38 cents, according to a poll by Thomson Reuters I/B/E/S. Revenue rose 4 percent from a year earlier to $1.79 billion, beating the average view of $1.74 billion. The company named independent director Dan Schulman to the position of non-executive chairman, replacing Steve Bennett, who will remain CEO and president. Symantec fired CEO Enrique Salem in July, tapping then-chairman Steve Bennett to take the post. Over the course of the Salem's term as CEO, Symantec shares fell about 19 percent, while the Nasdaq Composite Index climbed about 77 percent. Schulman, on Symantec's board since March 2000, is president of the Enterprise Growth Group at American Express Co. He also worked at Nextel Corp and AT&T Inc. Symantec shares rose 3.3 percent to $21.55 in premarket trade. (Reporting by Jim Finkle; Editing by Jeffrey Benkoe) Link this Share this Digg this Email Reprints

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