Gen Digital's Q3 earnings missed estimates, resulting in reduced FY24 guidance and 5% share decline due to weak antivirus software demand.

Shares of Gen Digital fell by 5.1% after the company reported lower-than-expected third-quarter results and reduced its fiscal 2024 guidance. The cybersecurity-products firm now expects revenue of $3.805 billion to $3.815 billion in fiscal 2024, compared to prior guidance of $3.81 billion to $3.835 billion. Gen Digital, known for its Norton and LifeLock brands, reported a profit of $144 million, or 22 cents a share, compared with $165 million, or 25 cents a share, a year earlier.

February 01, 2024
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