Gen Digital lifts fiscal 2027 outlook after revenue tops estimates
The cybersecurity company reported $1.369 billion in quarterly revenue and raised its full-year revenue and adjusted earnings forecasts.
Key takeaways
- Quarterly revenue was $1.369 billion, up 12% from a year earlier.
- Gen raised its fiscal 2027 revenue forecast to $5.465 billion-$5.515 billion.
- Shares rose about 7% in extended trading after the results.
Gen Digital raised its fiscal 2027 revenue forecast after reporting quarterly revenue of $1.369 billion, up 12% from a year earlier. Revenue topped the $1.34 billion average analyst estimate compiled by LSEG.
The company now expects fiscal 2027 revenue of $5.465 billion to $5.515 billion, compared with its previous forecast of $5.375 billion to $5.475 billion. It also raised its forecast for adjusted earnings per share to $2.93-$2.98, from $2.87-$2.97.
Adjusted earnings were 74 cents per share for the quarter ended October 2, above analysts’ 72-cent estimate. Gen said bookings rose 10% to $1.347 billion, marking its sixth consecutive quarter of double-digit bookings growth.
CEO Vincent Pilette told Reuters consumers were seeking help with AI-driven scams and the growing use of AI agents. He also said the company reached a record customer count and had healthy retention across its cybersecurity and financial wellness businesses.
Gen shares rose about 7% in extended trading after the results. As of 20:00 UTC on October 28, shares traded at $24.35, up 0.41% since the previous close.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
