Gen Digital raises annual revenue forecast on strong cybersecurity demand

By Prathik Jayaprakash

Oct 28 (Reuters) - Gen Digital GEN.O raised its annual revenue forecast on Wednesday, signaling sustained demand for its cybersecurity offerings as consumers seek protection from increasingly sophisticated online threats.

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