Analyst Jonathan Feeney hiked his $0.19 2002 earnings per share estimate to $0.23 and his $80.5 million 2002 revenues estimate to $87.8 million. He maintained his buy rating with a $19 price target.
McAfee.com posted $0.06 third quarter earnings per share from operations versus $0.09 loss on 29% revenue rise. Feeney says third quarter results beat his estimates for $15.8 million revenue and $0.01 earnings per share. He says results were driven primarily by an increase in consumer interest in personal computer security and high virus activity during the third quarter.
Feeney also notes total subscriptions soared 20%, while average selling prices rose to $29. He sees company's business as a big market opportunity over the long term, allowing for continuing growth in company's results.