Gen Digital Second Quarter 2023 Earnings: Revenues Beat Expectations, EPS Lags
Gen Digital (NASDAQ:GEN) Second Quarter 2023 Results
Key Financial Results
Revenue: US$748.0m (up 8.1% from 2Q 2022).
Net income: US$69.0m (down 79% from 2Q 2022).
Profit margin: 9.2% (down from 48% in 2Q 2022).
EPS: US$0.12 (down from US$0.57 in 2Q 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Gen Digital Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) missed analyst estimates by 71%.
Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Software industry in the US.
Performance of the American Software industry.
The company's shares are up 4.3% from a week ago.
Risk Analysis
It is worth noting though that we have found 5 warning signs for Gen Digital (1 doesn't sit too well with us!) that you need to take into consideration.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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