GEN DIGITAL Reports Q1 Earnings Results for Fiscal Year 2024
August 25, 2023
🌥️Earnings Overview
On August 3, 2023, GEN DIGITAL ($NASDAQ:GEN) reported its financial results for the first quarter of FY2024, ending June 30th of the same year. Total revenue for this period was USD 946.0 million, representing a 33.8% growth from the previous year. Reported net income, however, saw a 5.5% decrease, amounting to USD 189.0 million.
Price History
On Thursday, GEN DIGITAL reported its first quarter earnings results for the fiscal year 2024. The company’s stock opened at $18.8 and closed at $18.6, down by 0.7% from its last closing price of 18.8. Despite the decrease in earnings, GEN DIGITAL remains confident in its long-term outlook and is actively looking for ways to expand its business and improve profitability. The company has recently made strategic investments in new technologies and has launched several new products and services that are set to drive future growth.
Looking ahead, GEN DIGITAL will continue to focus on increasing its customer base and providing innovative solutions to its clients. Overall, the company remains focused on creating long-term value for its shareholders and believes that it is well positioned for success in the years to come. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Gen Digital. More…
| Total Revenues | Net Income | Net Margin |
| 3.58k | 1.34k | 39.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Gen Digital. More…
| Operations | Investing | Financing |
| 768 | -6.56k | 5.14k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Gen Digital. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 15.79k | 13.45k | 3.44 |
Key Ratios Snapshot
Some of the financial key ratios for Gen Digital are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 13.4% | 25.5% | 36.9% |
| FCF Margin | ROE | ROA |
| 21.2% | 37.5% | 5.2% |
Analysis
We at GoodWhale have completed an analysis of GEN DIGITAL‘s wellbeing. Based on our Star Chart, we conclude that GEN DIGITAL is classified as ‘gorilla’, a type of company that has achieved stable and high revenue or earning growth due to its strong competitive advantage. Given GEN DIGITAL’s strong performance in profitability, medium growth, and weak asset and dividend, investors of all types may be interested in investing in such a company. Furthermore, GEN DIGITAL has an intermediate health score of 5/10 with regard to its cashflows and debt, which suggests that it is likely to sustain future operations in times of crisis. All these factors make GEN DIGITAL an attractive investment opportunity. More…
Peers
The company competes with other prominent players such as SecureWorks Corp, DBAPPSecurity Co Ltd, and Cyber Security Cloud Inc, striving to provide the best possible solutions to their clients.
– SecureWorks Corp ($NASDAQ:SCWX)
SecureWorks Corp is a leading provider of cybersecurity solutions, offering an integrated platform that combines advanced technologies, threat intelligence, and incident response. SecureWorks Corp has a market cap of 705.56M as of 2023, which makes it one of the larger cybersecurity companies in the world. The company also has a negative return on equity (ROE) of -16.18%, indicating that its profits are not meeting investors’ expectations. Despite the negative ROE, SecureWorks Corp still offers a suite of cybersecurity solutions that protect businesses and organizations from malicious cyber threats. With its advanced technologies and threat intelligence capabilities, it is well-positioned to remain a top player in the industry.
– DBAPPSecurity Co Ltd ($SHSE:688023)
DBAppSecurity Co Ltd is a leading provider of cloud security solutions and services. It is one of the largest companies in its industry, having a market cap of 15.22 billion dollars as of 2023. It is also notable for its Return on Equity of -5.06%, indicating that the company has had difficulty generating profit from its equity investments. The company’s primary focus is on providing cloud security solutions and services that help protect organizations from cyber threats. It also provides specialized services such as risk assessments, vulnerability scanning, and incident response. DBAppSecurity Co Ltd provides these services to a wide range of customers, from small and medium sized businesses to large multinational corporations.
– Cyber Security Cloud Inc ($TSE:4493)
Cyber Security Cloud Inc is a leading provider of cyber security solutions and services for enterprises. With a market capitalization of 18.8 billion as of 2023, the company is well positioned to continue its success in the cybersecurity sector. Cyber Security Cloud Inc has also demonstrated strong financial performance through its Return on Equity of 15.78%, higher than the industry average. This indicates that the company is efficiently using its equity to generate impressive returns for the investors. The company provides innovative products and services which enable organizations to protect their data, identities, and applications from malicious cyber threats.
Summary
GEN DIGITAL has reported strong financial results for FY2024 Q1, with total revenue increasing by 33.8% year-on-year. Despite this growth, net income was down 5.5% due to elevated costs during the period. Investors should note that the company has delivered a healthy increase in revenue despite the challenging economic conditions caused by the COVID-19 pandemic.
With a strong balance sheet and a commitment to innovation, GEN DIGITAL is well-positioned for growth in the coming quarters. Long-term investors should consider adding GEN DIGITAL to their portfolios as the company continues to deliver positive results and a long-term growth strategy.
Related Posts
Recent Posts
