Symantec (NASDAQ:SYMC) is expected to report Q3 earnings after the market close on Wednesday, January 24, with a conference call scheduled for 5:00 pm ET. The consensus estimate is 41c for EPS and $1.71B for revenue, according to First Call.

For the past four quarters, the company has met expectations. Guidance for Q3 calls for EPS of 40c-41c, on revenue of $1.7B-$1.715B. Jefferies believes Symantec (NASDAQ:SYMC) is seeing progress across several product cycles. The firms’ checks indicated healthy overall deal activity in the December quarter, but did hear of select deals that did move out of the period. Jefferies is modeling Q3 revenue and earnings of $1.694M and 40c, respectively.

The firm recently reduced its estimates in part due to currency adjustments which Jefferies believes will impact Symantec’s (NASDAQ:SYMC) Q3 bookings — largely on the deferred revenue side. In Q4, Jefferies calculates that current currency rates could negatively impact revenue, which it does not believe is fully reflective in Street models. Consensus for Q4 is 43c on $1.75B in revenue. For FY13 is $1.80 on $7.10B in revenue.

Competitors to Watch: Microsoft Corporation (NASDAQ:MSFT), Websense Inc. (NASDAQ:WBSN), Oracle Corporation (NASDAQ:ORCL), CA, Inc. (NASDAQ:CA), VMware, Inc. (NYSE:VMW), Intl. Business Machines Corp. (NYSE:IBM), Hewlett-Packard Company (NYSE:HPQ), Novell, Inc. (NASDAQ:NOVL), Guidance Software, Inc. (NASDAQ:GUID), and Intel Corporation (NASDAQ:INTC).

Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.

To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com

Get Your FREE Special Report: 4 Things You Must Know About the US Economy Now!