Gen Digital raises annual revenue and profit outlook on cybersecurity demand

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(Reuters) -Antivirus software provider Gen Digital raised its annual revenue and profit targets on Thursday, benefiting from strong demand for its cybersecurity tools.

A surge in high-profile digital breaches and a rise in online scams have prompted companies to strengthen their defenses against evolving threats, driving enterprise spending on cybersecurity solutions—even amid broader economic uncertainty.

Demand for advanced security tools has remained strong, particularly as artificial intelligence enables increasingly sophisticated hacking techniques.

Gen Digital, which owns well-known antivirus brands including Avast, Avira, AVG and Norton, now expects fiscal 2026 revenue between $4.8 billion and $4.9 billion, compared with its prior target of $4.7 billion to $4.8 billion.

The Tempe, Arizona-based company also topped estimates for the quarter ended July 4, posting first-quarter revenue of $1.26 billion—beating analysts’ average estimate of $1.19 billion, according to data compiled by LSEG.

Shares of the company were up about 2% in extended trading.

Adjusted earnings came in at 64 cents per share, above the 60-cent estimate. The company now expects annual adjusted earnings per share in the range of $2.49 to $2.56, compared with its earlier guidance of $2.46 to $2.54.

(Reporting by Arsheeya Bajwa and Juveria Tabassum in Bengaluru; Editing by Tasim Zahid)