Cybersecurity stock Gen Digital (GEN -0.20%) ended the trading week on a high note. After publishing its latest quarterly report after market hours on Thursday, the company's shares raced more than 15% higher the following day as investors signaled their approval. That percentage rate was several orders of magnitude better than the 0.2% gain of the S&P 500 index on Friday.
A double beat to round out fiscal 2024
Gen Digital's fiscal fourth quarter of 2024 saw the company earn $967 million in revenue, which was 2% higher on a year-over-year basis. That was on the back of total bookings that also rose by 2%. The increase in non-GAAP (adjusted) net income was well higher, as it advanced by 14% to hit $336 million, or $0.53 per share.
Both headline results edged past the average-analyst estimates. These called for slightly over $965 million on the top line and $0.52 per share for adjusted-net income.
Additionally, Gen Digital's board of directors has authorized a new, $3 billion share-repurchase program. This includes the $429 million remaining on its previous initiative. The new program does not have an expiration date.
Fiscal 2025 guidance published
Gen Digital also proffered guidance for both its current (first) quarter of 2025 and the entirety of that fiscal year. The quarter's revenue should land at $960 million to $970 million, while per-share net income is forecast at $0.52 to $0.54. The projected ranges for fiscal 2025 are expected to be a respective $3.89 billion to $3.93 billion, and $2.17 to $2.23 per-share net income. The consensus-analyst estimates broadly fall within those ranges.
