Gen Digital (GEN) Q1 Earnings Meet Estimates

Core Viewpoint - Gen Digital reported quarterly earnings of $0.53 per share, matching the Zacks Consensus Estimate and showing an increase from $0.47 per share a year ago [1] - The company achieved revenues of $965 million for the quarter ended June 2024, exceeding the Zacks Consensus Estimate by 0.48% and up from $946 million year-over-year [2] Financial Performance - Earnings per share (EPS) for the last quarter were $0.53, with a surprise of 1.92% compared to the expected $0.52 [1] - The company has surpassed consensus revenue estimates three times over the last four quarters [2] - The current consensus EPS estimate for the upcoming quarter is $0.54, with expected revenues of $965.67 million, and for the current fiscal year, the estimate is $2.20 on $3.9 billion in revenues [7] Market Performance - Gen Digital shares have increased by approximately 13.9% since the beginning of the year, while the S&P 500 has gained 15.8% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Outlook - The Technology Services industry, to which Gen Digital belongs, is currently ranked in the top 38% of over 250 Zacks industries, suggesting a favorable outlook [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]