Investing.com -- Gen Digital reported second-quarter results that exceeded analyst expectations and raised its full-year guidance, sending shares up roughly 11% Thursday.
The cybersecurity company posted adjusted earnings per share of $0.74, beating the analyst estimate of $0.72. Revenue reached $1.37 billion, surpassing the consensus estimate of $1.34 billion and representing a 12% increase YoY. The company delivered its sixth consecutive quarter of double-digit bookings growth at $1.347 billion, up 10% from the prior year.
Gen raised its fiscal 2027 revenue guidance to a range of $5.465 billion to $5.515 billion, up from its prior forecast of $5.375 billion to $5.475 billion. The midpoint of $5.49 billion exceeds the analyst consensus of $5.437 billion.
The company also increased its full-year adjusted EPS guidance to $2.93 to $2.98, compared to prior guidance of $2.87 to $2.97. The midpoint of $2.96 is above the consensus estimate of $2.94.
For the third quarter, Gen expects adjusted EPS of $0.73 to $0.75, with the midpoint of $0.74 matching the analyst consensus of $0.73. The company projects third quarter revenue of $1.365 billion to $1.39 billion, with the midpoint of $1.378 billion above the consensus of $1.354 billion.
"We delivered our sixth consecutive quarter of double-digit bookings growth," said Vincent Pilette, CEO of Gen. "We reached a record high customer count, alongside strong product engagement and retention."
CFO Natalie Derse noted that the results "reflect the durability of our business model and continued momentum across both segments." The company generated year-to-date free cash flow of $753 million, up 47% from the prior year period.
Gen, which makes Norton and Avast among other products, reported second quarter operating income of $686 million, up 10% YoY.
Original Article
Gen Digital surges 11% on raised outlook and strong Q2 beat
