Avast antivirus-owner Gen Digital forecasts upbeat 2026 on strong demand
(Reuters) -Gen Digital, which offers antivirus software such as Avast, Avira and Norton, forecast annual revenue and profit above analysts' estimate on Tuesday, signaling strong demand for its cybersecurity tools, sending its shares up about 4% after the bell.
High-profile digital hacks and an increase in online scams have provoked companies to fortify their systems against evolving threats, boosting enterprise spending on cybersecurity solutions, even as growing economic uncertainty casts a shadow on clients' budget.
The company forecasts full-year 2026 revenue to be between $4.70 billion and $4.80 billion, compared with analysts' average estimate of $4.13 billion, according to data compiled by LSEG.
It expects adjusted per-share profit in the range of $2.46 to $2.54, above the estimate of $2.43.
Advanced security solutions have seen strong demand, especially as artificial intelligence increasingly enables more hacking techniques.
Gen Digital posted fourth-quarter revenue of $1.01 billion, beating analysts' estimate of $997 million.
The Tempe, Arizona-based company earned 59 cents per share on an adjusted basis during the period, compared with the estimate of 58 cents.
(Reporting by Kritika Lamba in Bengaluru; Editing by Shilpi Majumdar)
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