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Gen Digital Boosts Forecast Amid AI Security Boom
6 Feb
Summary
- Gen Digital raised its annual revenue forecast for the third consecutive quarter.
- Demand for digital security services is strong due to high-profile hacks.
- AI advancements are creating new avenues for cyber attacks.
Antivirus software provider Gen Digital announced on Thursday it has raised its annual revenue forecast for the third straight quarter. This optimistic outlook highlights significant demand for its digital security services.
The increasing number of high-profile cyberattacks, coupled with the evolving landscape of AI-driven threats, has prompted both consumers and enterprises to significantly bolster their digital defenses.
Gen Digital's raised fiscal 2026 revenue forecast now stands between $4.96 billion and $4.98 billion, an increase from its previous projection. The company also expects full-year earnings per share to range from $2.54 to $2.56.
In 2024, Gen Digital acquired fintech firm MoneyLion for $1 billion, aiming to enhance its consumer finance offerings and expand market share. The company is actively developing AI solutions to protect users and their data while enabling financial monitoring and management.
Gen Digital is the parent company of well-known antivirus brands including Avast, Avira, AVG, and Norton. For the fourth quarter, the company forecasts revenue between $1.24 billion and $1.26 billion, with third-quarter revenue reported at $1.24 billion, surpassing estimates.
