Gen Digital raises annual revenue forecast on strong cybersecurity demand
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Oct 28 : Gen Digital raised its annual revenue forecast on Wednesday, signaling sustained demand for its cybersecurity offerings as consumers seek protection from increasingly sophisticated online threats.
Shares of the company rose about 7 per cent in extended trading.
Here are more details:
• Gen delivered its sixth consecutive quarter of double-digit bookings growth as consumers sought help navigating AI-driven scams and the growing use of AI agents, CEO Vincent Pilette told Reuters
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• The company reported quarterly revenue of $1.37 billion, compared with analysts' average estimate of $1.34 billion, according to data compiled by LSEG
• The maker of Norton, Avast, LifeLock and MoneyLion products reported record customer counts and healthy retention across its cybersecurity and financial wellness businesses, Pilette said
• It earned 74 cents per share on an adjusted basis for the three months ended October 2, compared with estimates of 72 cents
• The company expects fiscal 2027 revenue in the range of $5.465 billion to $5.515 billion, up from its prior forecast of $5.375 billion to $5.475 billion. Analysts estimated annual revenue of $5.43 billion
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