From Investing.com: 2024-05-10 17:44:53

Gen Digital Inc (GEN) reported strong financial performance in Q4 and fiscal year 2024, with over $3.8 billion in total revenue, a 14% increase in USD, and a focus on cyber safety solutions. The company launched new products like the Norton Genie app and Total Radius tool, with President Andre Walcheck transitioning to a Board role.

Key takeaways from the earnings call include Gen blocking over 12 billion cyber attacks in FY2024, record bookings of $1.044 billion in Q4, and a reduction in net leverage to 3.4 times. The company also announced an expanded share buyback program and provided an optimistic outlook for FY2025, projecting revenue growth and an increase in non-GAAP EPS.

With a strong balance sheet and cash flow, Gen aims to drive sustainable growth and profitability through its product portfolio and strategic initiatives. The company’s operating income for Q4 was $569 million, with an operating margin of 59%, highlighting its financial health and market position. Looking ahead to FY2025, Gen expects revenue between $3.89 billion and $3.93 billion and non-GAAP EPS of $2.17 to $2.23 per share, indicating a positive outlook for the year.



Read more at Investing.com: Gen reports robust FY2024 results, bullish on cyber safety By Investing.com