Gen Digital Inc. (GEN) announced improved profitability for the first quarter of 2027. Net income climbed to $215 million, or $0.36 per share. This is up from $135 million, or $0.22 per share, in the previous year. The firm also announced a quarterly cash dividend of $0.125 per common share. Payment is set for September 9 to shareholders registered as of August 17.
When excluding non-recurring items, net income for the quarter reached $431 million, or $0.60 per share. Interest costs dropped to $124 million from $156 million in the prior year. These results prompted an upward revision of the company's full-year forecast and further strategic actions.
Revenues for the quarter grew by 6 percent to $1.336 billion. Adjusted revenues rose 11 percent to the same figure. This is compared to $1.208 billion in the year-ago period. Looking ahead to the second quarter, the company anticipates adjusted revenue. This is expected to range from $1.325 billion to $1.35 billion. Adjusted earnings per share are expected to range from $0.71 to $0.73.
Gen Digital has raised its full-year 2027 outlook. It is forecasting adjusted revenue between $5.375 billion and $5.475 billion. This is an increase from the earlier range of $5.325 billion to $5.425 billion. Adjusted earnings per share are now expected to range from $2.87 to $2.97. This is up from the prior guidance of $2.85 to $2.95.
Shares of Gen Digital closed regular trading at $28.26, reflecting a 0.54 percent increase on Thursday, followed by an additional 0.57 percent gain in after-hours trading. Additional updates on earnings can be found at rttnews.com.