The maker of Norton, Avast, LifeLock, and MoneyLion experienced its sixth consecutive quarter of double-digit bookings growth amid the proliferation of AI agents. For its quarter ended October 2, the firm generated $1.37 billion in revenue and adjusted earnings of 74 cents per share, surpassing analyst projections on both metrics. Gen Digital now targets fiscal 2027 revenue reaching as high as $5.515 billion, which also tops consensus forecasts.
Key points
Consumers are actively seeking specialized tools to defend against emerging artificial in…: Consumers are actively seeking specialized tools to defend against emerging artificial intelligence scams and autonomous agents.
The company attained a record total customer count while preserving healthy retention rat…: The company attained a record total customer count while preserving healthy retention rates across its security and financial platforms.
Sustained double-digit bookings growth has now continued for six straight quarters across…: Sustained double-digit bookings growth has now continued for six straight quarters across the organization's core portfolio.
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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
• 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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