McAfee says 2nd-quarter profit rose, agrees to buy cell phone security software company

McAfee 2Q profit rises

SANTA CLARA, Calif. — Computer-security software maker McAfee Inc. said Thursday that its second-quarter profit rose 38 percent, helped by growth in its corporate and consumer businesses.

For the April-June period, McAfee earned $39.4 million, or 25 cents per share, compared with $28.7 million, or 18 cents per share, in the year-ago quarter.

When excluding one-time items, McAfee earned 63 cents per share — 3 cents higher than what analysts surveyed by Thomson Reuters expected.

Revenue rose 4 percent to $489.2 million from $468.7 million in the year-ago quarter. McAfee said revenue from its corporate business rose 2 percent to $298 million, while consumer revenue rose 8 percent to $190 million.

For the current quarter, McAfee predicted a profit of 29 cents to 33 cents per share, or 62 cents to 66 cents per share on an adjusted basis, on revenue of $505 million to $520 million.

Analysts are looking for adjusted earnings of 65 cents per share on $522.8 million in revenue.

Also Thursday, McAfee said it will buy tenCube, a privately owned company that offers the WaveSecure mobile security service. WaveSecure helps people find their phones remotely if they’ve been lost or stolen and, if necessary, remotely lock them or delete their data.

Terms of the purchase were not disclosed.

McAfee shares rose 25 cents to $30.50 in after-hours trading, after finishing regular trading down 87 cents at $30.25.