WASHINGTON (dpa-AFX) - Gen Digital Inc. (GEN), a cyber-security solutions provider, reported higher earnings in the first quarter of 2027. Furthermore, the company lifted its guidance for fiscal 2027, issued guidance for the second quarter and declared a quarterly dividend.
Net income for the period rose to $215 million or $0.36 per share from $135 million or $0.22 per share in the same quarter last year.
Interest expense declined to $124 million from $156 million in the previous year.
Excluding one-time items, net income was $431 million or $0.60 per share in the first quarter.
Net Revenues rose by 6 percent to $1.336 billion from $1.257 billion in the prior year.
Adjusted net revenues increased by 11 percent to $1.336 billion from $1.208 billion last year.
Looking ahead for the second quarter, the company expects adjusted revenue to be in the range of $1.325 billion to $1.350 billion and adjusted earnings per share to be in the range of $0.71 to $0.73.
For fiscal 2027, adjusted revenue is expected to be in the range of $5.375 billion to $5.475 billion, compared to prior guidance of $5.325 billion to $5.425 billion. Additionally, adjusted earnings per share is expected to be between $2.87 and $2.97, compared to prior guidance of $2.85 to $2.95.
Additionally, the company declared a quarterly cash dividend of $0.125 per common share to be paid on September 9, to all shareholders, as on August 17 close.
On the Nasdaq in the after-hour activity, the shares closed Thursday's trading 0.57 percent higher at $28.26, after closing regular trading 0.54 percent up on the same day.
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