Mcafee Corp. Stock Price, News & Analysis

McAfee Corp. (Nasdaq: MCFE) has released a new report, “The Hidden Costs of Cybercrime,” revealing that global cybercrime now costs over $1 trillion annually, up 50% from 2018. The report highlights that 92% of companies experience impacts beyond financial losses, such as system downtime and brand damage. Organizations reported an average downtime cost of $762,231, with 33% facing losses between $100,000 and $500,000. Alarmingly, 56% lack effective cyber incident response plans. The report emphasizes urgent action is needed to enhance cyber resilience.

McAfee Corp. (MCFE) reported strong Q3 2020 results, with total net revenue reaching $728 million, up 10% year-over-year. Consumer revenue grew to $395 million, a 23% increase. Operating income soared by 142% to $128 million, while adjusted EBITDA rose 26% to $265 million. The company boasts a 100% dollar retention rate in its consumer segment and added over 2.4 million Core DTC subscribers. McAfee's IPO allowed for debt reduction and expansion of partnerships, including with Amazon. Guidance for Q4 estimates revenue between $732 million and $742 million.

McAfee Corp. (Nasdaq: MCFE) announced the launch of its MVISION Cloud Native Application Protection Platform (CNAPP), designed to enhance security for applications and data on Amazon Web Services (AWS). This unified security service integrates Cloud Security Posture Management, Cloud Workload Protection, and application security features, offering insights and tools for better risk management. Available on AWS Marketplace, CNAPP simplifies deployment with integrations like AWS Security Hub, making it easier for users to secure their cloud-native applications.

McAfee Corp. (Nasdaq: MCFE) released findings from its 2020 Holiday Season: State of Today’s Digital e-Shopper survey, indicating 36% of Americans plan to increase online holiday shopping despite 60% recognizing higher cyber scam risks. Since COVID-19, 49% of consumers have shifted to more online shopping, with 18% shopping daily. McAfee Labs reported a 12% rise in online cybercrime threats, with 419 threats per minute observed in Q2 2020. The survey suggests a concerning lack of vigilance among consumers, with only 43% verifying the authenticity of online deals.

McAfee Corp. (Nasdaq: MCFE) has launched the MVISION Marketplace, MVISION API, and MVISION Developer Portal to enhance customer integration of security applications. These tools aim to fill security gaps and improve overall security posture. The open API framework allows for faster threat response and reduced operational costs. The Marketplace features top partners like Attivo Networks and ServiceNow, helping teams streamline security processes. The launch supports both existing security tools and the integration of new solutions.

McAfee Corp. (Nasdaq: MCFE) has announced a strategic partnership with Amazon Business to offer an exclusive security software and IT services bundle tailored for Business Prime members, focusing on small to medium businesses (SMBs). The bundle includes essential data protection solutions and services, such as email protection, web and firewall safeguards, mobile VPN, and malware prevention. Introductory pricing ranges from $49.99 to $99.99 for the first year, with subsequent annual rates of $149.99 to $249.99. This initiative aims to enhance security for small businesses against increasing cyber threats.

McAfee Corp. (NASDAQ: MCFE) will release its third quarter financial results for FY 2020 on November 19, 2020, after U.S. market close. A conference call is scheduled for 5:00 PM ET on the same day to discuss these results. Interested parties can join the call at (833) 301-1122 for U.S. and Canadian callers or (631) 658-1012 for international attendees. The conference ID is 8669006, and a webcast will be available for replay on the company's Investor Relations page for 30 days post-call.

McAfee Corp. (Nasdaq: MCFE) has released the McAfee Labs Threats Report: November 2020, detailing cyber threat activities for Q2 2020. Key findings include an alarming average of 419 new threats per minute, a 605% rise in COVID-19-related attacks, and a 117% increase in PowerShell malware. The report highlights the adaptability of cybercriminals targeting remote workers due to the pandemic. Notably, 7.5 million external attacks were noted on cloud users. The cybersecurity landscape continues to evolve rapidly amid ongoing challenges.

McAfee Corp. (Nasdaq: MCFE) has been recognized as a Leader in the 2020 Gartner Magic Quadrant for Cloud Access Security Brokers (CASB) for the fourth consecutive year. This report highlights McAfee's MVISION Cloud, which was positioned highest for execution and furthest for vision. The company continues to innovate, offering solutions like Unified Cloud Edge and MVISION Cloud Native Application Protection Platform. In 2020, McAfee also received significant recognitions, including FedRAMP High Impact Provisional Authority to Operate, reinforcing its trusted cybersecurity offerings.