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Home > Cybersecurity > McAfee announces quarterly financial results

McAfee announces quarterly financial results

McAfee announced the company's financial results for the three-month period that is ended June 26.

Erdem Yasar by Erdem Yasar
August 12, 2021
in Cybersecurity
2 min read
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Online protection company McAfee announced financial results for the second quarter. According to the announcement, core direct-to-consumer subscribers increased by 17% to 19.4 million. Net cash from operating activities also grew 62% year-over-year to $189 million. 

Third-quarter outlook

The company also announced the expected financial guidance for the third quarter. According to the new outlook, the net revenue expectation is increased to $467 million from $461 million. For the full year that will end on December 25, net revenue increased from $1,840 million to $1,850 million. Some of the second quarter highlights are:

  • Net revenue was $467 million, reflecting a 22% growth year-over-year
  • Net Income of $108 million or a Net Income Margin of 23%, as compared to $22 million or a Net Income Margin of 6% in the year ago period
  • Adjusted EBITDA of $218 million or a 47% Adjusted EBITDA Margin, inclusive of approximately $21 million stranded costs
  • McAfee’s combined Net cash provided by operating activities was $189 million for the quarter, up 62% year-over-year
  • McAfee’s combined Unlevered Free Cash Flow was $233 million for the quarter, up 29% year-over-year
Peter Leav, President and Chief Executive Officer of McAfee
Peter Leav, President and Chief Executive Officer of McAfee

Peter Leav, President and Chief Executive Officer of McAfee said,

“We are very pleased with our team’s execution this quarter. Not only did McAfee deliver another solid quarter with revenue, DTC subscribers, profitability and cash flow from operations growing double-digits, but did so while simultaneously closing the transaction to sell the Enterprise Business. Our continued commitment to secure our customers’ online footprint helped us to drive 22% year-over-year consumer revenue growth while we added 556,000 net new direct-to-consumer subscribers in Q2. We look forward to continuing our journey as a pure-play consumer business.”

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Erdem Yasar

Erdem Yasar

Erdem Yasar is a news editor at Cloud7 News. Erdem started his career by writing video game reviews in 2007 for PC World magazine while he was studying computer engineering. In the following years, he focused on software development with various programming languages. After his graduation, he continued to work as an editor for several major tech-related websites and magazines. During the 2010s, Erdem Yasar shifted his focus to cloud computing, hosting, and data centers as they were becoming more popular topics in the tech industry. Erdem Yasar also worked with various industry-leading tech companies as a content creator by writing blog posts and other articles. Prior to his role at Cloud7 News, Erdem was the managing editor of T3 Magazine.

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