UPDATE 1-Symantec profit beats Street as cost cuts boost margins

(Compares with estimates; adds forecast, analyst comment, details, share move)

May 8 (Reuters) - Security software maker Symantec Corp posted a better-than-expected quarterly profit, helped by cost cutting, and forecast current quarter and full-year revenue above Wall Street expectations.

Shares of the company, known for its Norton antivirus software, rose about 2 percent after the bell.

Symantec said it expects first-quarter adjusted profit of 41-43 cents per share on revenue of $1.65-$1.69 billion.

Analysts on average were expecting a profit of 43 cents per share on revenue of $1.64 billion, according to Thomson Reuters I/B/E/S.

The company expects an adjusted profit of $1.84-$1.92 per share on revenue of $6.63-$6.77 billion for the full year.

Analysts were expecting a profit of $1.83 per share on revenue of $6.66 billion.

The company said cost reductions helped its fourth-quarter results and said it expects to streamline operations and expand margins in 2015.

"With the departure of ex-CEO Steve Bennett during the quarter, investors were fearing the worst. Instead, the company delivered results that slightly exceeded Street expectations," FBR Capital Markets analyst Daniel Ives said.

Net income attributable to the company rose to $217 million, or 31 cents per share, in the quarter ended March 28, from $190 million, or 27 cents per share, a year ago.

On an adjusted basis, the company earned 47 cents per share beating analysts' estimates of 42 cents per share.

Total operating expenses fell 12 percent in the quarter and adjusted operating margins rose to 27.1 percent from 24.1 percent a year earlier.

Revenue fell 7 percent to $1.63 billion in the fourth quarter from $1.75 billion a year earlier. Analysts had expected $1.65 billion.

Shares of the company closed at $20.13 on the Nasdaq on Thursday. The stock has lost about 15 percent of its value in the year so far.

(Reporting by Soham Chatterjee; Editing by Rodney Joyce and Joyjeet Das)