Gen Digital Inc. Q4 Profit Decreases, But Beats Estimates

(RTTNews) - Gen Digital Inc. (GEN) announced a profit for fourth quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $134 million, or $0.21 per share. This compares with $915 million, or $1.42 per share, in last year's fourth quarter.

Excluding items, Gen Digital Inc. reported adjusted earnings of $336 million or $0.53 per share for the period.

Analysts on average had expected the company to earn $0.52 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 2.1% to $967 million from $947 million last year.

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

-Earnings (Q4): $134 Mln. vs. $915 Mln. last year. -EPS (Q4): $0.21 vs. $1.42 last year. -Revenue (Q4): $967 Mln vs. $947 Mln last year.

-Guidance: Next quarter EPS guidance: $0.52 to $0.54 Next quarter revenue guidance: $960 - $970 Mln