Gen Digital Inc. Q3 Profit Decreases, misses estimates

(RTTNews) - Gen Digital Inc. (GEN) revealed a profit for third quarter that decreased from last year and missed the Street estimates.

The company's earnings came in at $144 million, or $0.22 per share. This compares with $165 million, or $0.25 per share, in last year's third quarter.

Excluding items, Gen Digital Inc. reported adjusted earnings of $317 million or $0.49 per share for the period.

Analysts on average had expected the company to earn $0.50 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.6% to $951 million from $936 million last year.

Gen Digital Inc. earnings at a glance (GAAP) :

-Earnings (Q3): $144 Mln. vs. $165 Mln. last year. -EPS (Q3): $0.22 vs. $0.25 last year. -Analyst Estimates: $0.50 -Revenue (Q3): $951 Mln vs. $936 Mln last year.

-Guidance: Next quarter EPS guidance: $0.52 to $0.54 Next quarter revenue guidance: $960 to $970 Mln Full year EPS guidance: $1.95 to $1.97 Full year revenue guidance: $3.805 to $3.815 Bln