Symantec Corp.’s stock dropped in the extended session Thursday but bounced off after-hours lows after the cybersecurity company’s outlook fell short of Wall Street estimates.

Symantec US:SYMC shares, which had been down more than 12% after hours just before its earnings conference call, were last down 8.3% after hours. Shares had closed the regular session up 2.2% at $20.88. Symantec shares closed Thursday down 26% for the year, compared with a 5.8% gain on the S&P 500 index SPX, +0.29% and a 13% rise in the tech-heavy Nasdaq Composite Index COMP, +0.36% .

The Mountain View, Calif.-based company estimates adjusted earnings of 31 cents to 35 cents a share on revenue of $1.13 billion to $1.16 billion for the fiscal second quarter, and $1.47 to $1.57 a share on revenue of $4.67 billion to $4.79 billion for the year.

Analysts surveyed by FactSet expect earnings of 37 cents a share on revenue of $1.19 billion for the second quarter, and $1.56 a share on revenue of $4.83 billion for the year.

Symantec reported a fiscal first-quarter loss of $63 million, or 10 cents a share, compared with a loss of $133 million, or 22 cents a share, in the year-ago period. Adjusted earnings were 34 cents a share.

Revenue fell to $1.16 billion from $1.18 billion in the year-ago period. Analysts had estimated 33 cents a share on revenue of $1.15 billion. Estimize, a software platform that uses crowdsourcing from hedge-fund executives, brokerages, buy-side analysts and others had forecast earnings of 37 cents a share on revenue of $1.17 billion.

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“Following a successful fiscal year 2018 in our Enterprise Security segment, first quarter fiscal year 2019 enterprise implied billings were below expectations due to longer than expected sales cycles for large, multi-product platform sales,” Chief Executive Greg Clark said in a statement.

On an adjusted basis, enterprise security revenue fell 16% to $565 million from the year-ago period, while analysts expected $545.6 million. Consumer digital safety revenue rose 7% to $600 million, while analysts expected $605 million.

Symantec reported adjusted implied billing of $996 million for the first quarter, while analysts were looking for $1.1 billion, according to FactSet. Implied enterprise security billings were $453 million, down from $656 million in the year-ago period.

On the call, Chief Financial Officer Nick Noviello said Symantec expects enterprise security revenue of $535 million to $555 million and consumer digital safety revenue of $595 million to $605 million for the second quarter. Analysts expect $589.6 million in enterprise revenue and $604.5 million for the second quarter.

For the year, Noviello forecast $2.27 billion to $2.35 billion in enterprise revenue and $2.4 billion to $2.44 billion in consumer revenue for the year. Analysts expect $2.38 billion in enterprise and $2.46 billion in consumer.

It hasn’t been an easy earnings season for cybersecurity companies. Shares of FireEye Inc. FEYE, -1.72% finished down nearly 2% Thursday after even after the company’s earnings and outlook topped Wall Street estimates.

“It’s a market where the valuations are too damn high,” FireEye Chief Executive Kevin Mandia had told MarketWatch ahead of their report’s release Tuesday.