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)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
22 minutes ago
- Yahoo
2 Growth Stocks to Stash and 1 to Question
Growth is a hallmark of all great companies, but the laws of gravity eventually take hold. Those who rode the COVID boom and ensuing tech selloff in 2022 will surely remember that the market's punishment can be swift and severe when trajectories fall. Deciphering which businesses can sustain their high growth rates is a challenge for even the most seasoned professionals, which is why we started StockStory. On that note, here are two growth stocks expanding their competitive advantages and one climbing an uphill battle. One-Year Revenue Growth: +25.3% Founded in 2009 by enterprise software veteran Tom Seibel, (NYSE:AI) provides software that makes it easy for organizations to add artificial intelligence technology to their applications. Why Does AI Fall Short? 15.5% annual revenue growth over the last three years was slower than its software peers Extended payback periods on sales investments suggest the company's platform isn't resonating enough to drive efficient sales conversions Historical operating margin losses point to an inefficient cost structure stock price of $25.72 implies a valuation ratio of 7.4x forward price-to-sales. Dive into our free research report to see why there are better opportunities than AI. One-Year Revenue Growth: +32.3% Founded in 2014 and named after the dreaded first day of the work week, (NASDAQ:MNDY) is a software-as-a-service platform that helps organizations plan and track work efficiently. Why Is MNDY a Good Business? ARR trends over the last year show it's maintaining a steady flow of long-term contracts that contribute positively to its revenue predictability Software is difficult to replicate at scale and results in a best-in-class gross margin of 89.5% Strong free cash flow margin of 30.4% enables it to reinvest or return capital consistently is trading at $305 per share, or 12.7x forward price-to-sales. Is now a good time to buy? Find out in our full research report, it's free. One-Year Revenue Growth: +20% Founded in 2010 and named for a combination of 'docs' and 'proximity', Doximity (NYSE: DOCS) is the leading social network for U.S. medical professionals. Why Should DOCS Be on Your Watchlist? Billings have averaged 23.5% growth over the last year, showing it's securing new contracts that could potentially increase in value over time Well-designed software integrates seamlessly with other workflows, enabling swift payback periods on marketing expenses and customer growth at scale DOCS is a free cash flow machine with the flexibility to invest in growth initiatives or return capital to shareholders At $58.44 per share, Doximity trades at 19x forward price-to-sales. Is now the right time to buy? See for yourself in our comprehensive research report, it's free. Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today for free.
Yahoo
22 minutes ago
- Yahoo
St. Pete consignment shop abruptly closes, thousands of dollars in designer goods missing
The Brief Retreat Consignment store closed without warning. Sellers who had their goods on consignment are now missing. The entire store has been completely cleared out. ST. PETERSBURG, Fla. - Thousands of dollars' worth of designer goods are missing from a St. Petersburg consignment shop. The store, Retreat Consignment, abruptly closed without any warning and now several sellers want to know where their stuff is and how to get it back. What we know Detectives spoke with one of the sellers on Monday. He's out thousands of dollars in art pieces. Dozens more on social media are missing designer shoes and bags worth thousands. The shop is empty, and the store owners are nowhere to be found. Follow FOX 13 on YouTube Rich Goren has been collecting original art pieces for years. "These are just two of the examples of them, but you can see the high quality," Goren said. He's sold several on consignment at the Retreat consignment shop on Central Avenue in St. Pete. READ: St. Pete man sailing over 5,500 miles for Ronald McDonald House Charities "We would be in the store pretty often and we would see that our stuff was still there," Goren said. Last week he noticed the store was completely empty. His stuff was nowhere to be found. Two art pieces and two pairs of designer shoes worth about $17,000 altogether are now missing. "I hope for the best, maybe sitting in a warehouse and they want to return everything. That's fine. That would be the best case scenario. But the fact that you have a business, people entrusting you with their valuables and you just take off. Come on. That's not great," Goren said. What they're saying The stores yelp page is now filled with reviews from frustrated sellers with similar stories. MORE: St. Pete approves projects to make sewer system more resilient "I am BESIDE myself that they closed their doors and took off with all of my items," one reviewer wrote. "There has been no communication as to how they are going to get their clients items, and money owed, back to them," another reviewer wrote. "One of the employees reached out to me, I won't say her name, but she said, oh my gosh, I feel awful, we all do, we haven't paid, and it was unexpected. We thought they might sell the store, but we also thought they would be transparent about everything. There's no reason for them not to be calling," Goren said. Goren reported it to the St. Pete Police Department on Monday. Detectives are encouraging any other sellers who also had their items taken to reach out. Goren has tried to reach the shop owners multiple times, but his calls and emails have all went unanswered. "It's a civil case if they have it, and they're not returning it quickly enough and so that's where that lands. So I don't know what it is. I just know that we just always try to do right by people and I expect that they seem like really good people to us but this isn't looking good," Goren said. READ: More affordable housing coming to South St. Pete with Habitat for Humanity partnership Timeline The store closed sometime in March. Goren has tried to contact the owners multiple times via email and phone, but his calls went unanswered. Sellers who had items not returned are encouraged to file a report with St. Pete Police. The Source The information in this story was gathered by FOX 13's Jordan Bowen. WATCH FOX 13 NEWS: STAY CONNECTED WITH FOX 13 TAMPA: Download the FOX Local app for your smart TV Download FOX Local mobile app:Apple |Android Download the FOX 13 News app for breaking news alerts, latest headlines Download the SkyTower Radar app Sign up for FOX 13's daily newsletter
Bloomberg
27 minutes ago
- Bloomberg
Musk's Banker Michael Grimes Sells SpaceX, Anduril for Trump Job
Michael Grimes, the veteran technology investment banker who helped Elon Musk buy Twitter in 2022, reported assets worth as much as $98 million in a financial disclosure as part of his new role at the Commerce Department. Grimes reported nearly $67 million of income, stock and accrued vacation payout from Morgan Stanley, where he worked for roughly 30 years as a managing director and a co-head of global technology investment banking. That total includes the $56 million he realized from selling restricted stock units that vested after he left in February. Grimes no longer owns shares in the company, according to his disclosure.
