Sector: Technology|Industry: Software - Infrastructure|Market Cap: $16.95B|Employees: 3.4K
Gen Digital Inc. is a global company that provides cybersecurity solutions through a family of trusted brands including Norton, Avast, LifeLock, and others. The company's core business model revolves around offering a comprehensive suite of products and services in cyber safety, covering security, privacy, and identity protection, primarily through direct-to-consumer subscriptions and indirect partner channels. Gen Digital has a significant global presence, serving approximately 500 million users in over 150 countries.
Net revenues increased to $974 million compared to $945 million in the same period last year, driven by growth in consumer security and identity and information protection products. This indicates a positive trend in revenue generation.
Operating income rose to $402 million compared to $22 million in the prior year, primarily due to reduced legal costs related to ongoing litigation and lower amortization of intangible assets. This suggests improved profitability due to cost management and asset management.
The decrease is attributed to share repurchases, cash interest payments, dividends, voluntary debt prepayments, and mandatory principal amortization payments. This indicates active capital allocation but also a reduction in liquid assets.