Company beats estimates and narrows guidance
- Gen Digital shares rise after beating analyst forecasts in 2Q results
- Adjusted earnings and revenue exceed expectations
- Company narrows full-year guidance
- Stock up 7% at $18.68
- 2023 adjusted earnings expected to be $1.95 to $2 per share
- Revenue projected to be $3.81 billion to $3.835 billion
- Profit in 2Q reaches $149 million, compared to $69 million a year ago
- Adjusted earnings per share in line with analyst estimates
- Quarterly revenue of $948 million, surpassing projections
Shares of Gen Digital surged after the company reported better-than-expected adjusted earnings and revenue in the fiscal second quarter. The stock rose 7% to $18.68, although it is still down 13% year-to-date. Gen Digital, formerly known as NortonLifeLock, now expects adjusted earnings of $1.95 to $2 per share and revenue of $3.81 billion to $3.835 billion for 2023, slightly narrowing its previous guidance. In the second quarter, the company posted a profit of $149 million, compared to $69 million in the same quarter last year. Adjusted earnings per share were in line with analyst estimates, while quarterly revenue reached $948 million, surpassing projections.
Factuality Level: 8
Factuality Justification: The article provides specific information about Gen Digital’s adjusted earnings and revenue in the fiscal second quarter, as well as its narrowed full-year guidance. It also includes comparisons to analyst forecasts and previous guidance. The information is supported by specific figures and sources such as FactSet. However, the article does not provide any analysis or context beyond the basic financial information.
Noise Level: 3
Noise Justification: The article provides relevant information about Gen Digital’s adjusted earnings and revenue in the fiscal second quarter, as well as its narrowed full-year guidance. It includes specific figures and compares them to analyst forecasts. However, it lacks in-depth analysis, antifragility considerations, and accountability of powerful people. It also does not provide actionable insights or solutions.
Financial Relevance: Yes
Financial Markets Impacted: Shares of Gen Digital
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses the adjusted earnings and revenue of Gen Digital. However, there is no mention of any extreme event or its impact.
Public Companies: Gen Digital (N/A), NortonLifeLock (N/A)
Key People:
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