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Gen Digital beats first-quarter revenue estimates on uptick in demand

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Cybersecurity firm Gen Digital beat revenue estimates for the first quarter on Thursday, as demand for its antivirus software like Avast, Norton and Avira rose, sending shares surging 3.7 per cent in trading after the bell.Demand for cybersecurity software has soared in the wake of continuously evolving c

Cybersecurity firm Gen Digital beat revenue estimates for the first quarter on Thursday, as demand for its antivirus software like Avast, Norton and Avira rose, sending shares surging 3.7 per cent in trading after the bell.

Revenue in the first quarter grew 34 per cent to $946 million, slightly above analysts' average estimate of $945.4 million, according to Refinitiv data. Gen Digital expects fiscal year 2024 revenue to be in the range $3.8 billion to $3.85 billion, the midpoint of which is slightly below analysts' average estimate of $3.85 billion, according to Refinitiv data.

 

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