GEN's Q3 Earnings Beat, Revenues Match: Will the Stock Move Upward?

Zacks

Gen Digital Inc. GEN reported third-quarter fiscal 2025 results, wherein revenues matched the Zacks Consensus Estimate and earnings beat the same.

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

Gen Digital reported non-GAAP earnings of 56 cents per share, which improved 15% year over year and on a constant currency basis. In the third quarter, the bottom line came at the high end of management's guidance of 54-56 cents, exceeding the Zacks Consensus Estimate by 1.8%. This resulted from strong operational leverage and balanced capital allocation.

In the trailing four quarters, GEN’s earnings surpassed the Zacks Consensus Estimate twice, while matching twice on the same occasion, with an average surprise of 0.94%.

Gen Digital’s third-quarter non-GAAP revenues increased 4% year over year and on a constant currency basis to $986 million, matching the Zacks Consensus Estimate. Stronger growth in the higher-value U.S. market and the broad-based expansion across the product portfolio, fueled by the ongoing demand for comprehensive consumer cyber safety solutions, were the main drivers of the top line.

Gen Digital’s strong quarterly performance, along with upbeat guidance for the fourth quarter and fiscal 2025, is likely to give a fresh boost to its share price. GEN shares have risen 16.6% over the past year compared with the Zacks Technology Services industry’s growth of 71.3%.

Gen Digital Inc. Price, Consensus and EPS Surprise

Gen Digital Inc. price-consensus-eps-surprise-chart | Gen Digital Inc. Quote

GEN’s Q3 Top-Line Details

Robust growth in Gen Digital’s top line can be attributed to the increase in the Cyber Safety revenues, which comprises the Direct customer revenues and the Partner revenues.

Gen’s Cyber Safety revenues amounted to $974 million in the third quarter, out of which Direct Customer revenues increased 4% year over year to $869 million and Partner revenues improved 6% to $105 million. Our revenue estimates for Direct Customer and Partner were pegged at $868.6 million and $104.3 million, respectively.

The direct monthly average revenue per user (ARPU) increased to $7.27 compared with the year-ago quarter’s ARPU of $7.18 and the previous quarter’s $7.26. Our estimate for the direct monthly average revenue per user was pegged at $7.28. The quarterly bookings advanced 3% on a year-over-year basis to $1.036 billion.

Gen Digital’s average direct customer count increased to 40.1 million from 38.9 million in the year-ago quarter and 39.7 million in the previous quarter. Our estimate for the average direct customer count was pegged at 39.8 million.

GEN’s customer retention rate grew 0.5% year over year to 77.5%. The company’s customer retention rate was 78% in the previous quarter and 77% in the year-ago quarter.

GEN’s Operating Details

The non-GAAP gross profit grew 3% year over year to $850 million. However, the gross margin contracted by 70 basis points (bps) to 86.2%.

Non-GAAP operating expenses increased to $273 million from $269 million. Moreover, as a percentage of revenues, non-GAAP operating expenses deteriorated 70 bps to 27.7%.

The non-GAAP operating income in the third quarter of fiscal 2025 totaled $577 million, up 4% year over year. The non-GAAP operating margin was flat year over year at 58.5%, reflecting ongoing efforts in disciplined spending.

Non-GAAP EBITDA decreased 3.1% year over year to $447 million. Meanwhile, the non-GAAP reported EBITDA increased 4% year over year to $582 million.

Gen Digital’s Balance Sheet & Cash Flow

Gen Digital exited the third quarter with cash and cash equivalents of $883 million compared with the previous quarter’s $737 million. The long-term debt was $7.08 billion, down from $7.13 billion in the previous quarter.

In the third quarter of fiscal 2025, the company generated operating and free cash flows of $326 million and $318 million, respectively. In the first nine months of fiscal 2025, the company generated operating cash flow and free cash flow of $748 million and $736 million, respectively.

Gen Digital paid out $77 million in dividends during the third quarter. In the first nine months of fiscal 2025, it paid $236 million in dividends, repurchased stocks worth $272 million and repaid debt worth $147 million.

Gen Digital Updates Guidance for 2025

For the fourth quarter of fiscal 2025, Gen Digital anticipates revenues between $990 million and $1.005 billion. The company projects non-GAAP earnings between 57 cents and 59 cents in the fiscal fourth quarter. The Zacks Consensus Estimate for fourth-quarter revenues and non-GAAP earnings is currently pegged at $1 billion and 57 cents per share, respectively.

For fiscal 2025, Gen Digital projects revenues to be in the range of $3.915-$3.930 billion compared to the prior guidance of $3.905-$3.930 billion. It now anticipates earnings per share to be in the range of $2.20-$2.22 compared to the prior guidance of $2.18-$2.23. The consensus mark for fiscal 2025 revenues and non-GAAP earnings currently stands at $3.93 billion and $2.19 per share, respectively.

Zacks Rank & Stocks to Consider

Currently, GEN carries a Zacks Rank #3 (Hold).

Gitlab GTLB, Planet Labs PBC PL and Fortinet FTNT are some better-ranked stocks that investors can consider in the broader Zacks Computer & Technology sector. PL, FTNT and GTLB carries a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

GTLB shares have dropped 0.7% for the past year. The Zacks Consensus Estimate for GTLB’s full-year 2025 earnings is pegged at 63 cents per share, up 37% over the past 60 days, suggesting an increase of 215% from the year-ago quarter’s reported figure.

PL shares have surged 153.3% in the past year. The Zacks Consensus Estimate for PL’s full-year fiscal 2025 loss has contracted to 15 cents from the year-ago quarter’s loss of 50 cents.

FTNT shares have gained 52.2% for the past year. The Zacks Consensus Estimate for FTNT’s full-year 2025 earnings is pegged at $2.39 per share, up by a couple of pennies over the past 60 days, suggesting an increase of 6.5% from the year-ago quarter’s reported figure.

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Thursday's Insider Activity: Top Buys and Sells in US Stocks Revealed

Investing.com

Burke & Herbert Financial Services

This article summarizes the most significant insider buying and selling activities reported for US stocks on Thursday, January 30, 2025.

Top Insider Buys:

• First Financial Bankshares Inc. (NASDAQ:FFIN): Robert Clark Nickles Jr., a director at First Financial Bankshares Inc., has increased his stake in the company. Nickles purchased a total of 1,016 shares in two transactions on August 6, 2024, and January 29, 2025, at prices ranging from $35.22 to $37.85 per share. The total investment amounted to approximately $37,077. Following these transactions, Nickles now holds 94,579 shares indirectly through a limited liability corporation and 11,636 shares directly.

• Northwest Bancshares (NASDAQ: NASDAQ:NWBI): An executive at Northwest Bancshares sold shares valued at $45,587 at an average price of $13.025. While this represents a sell transaction, it's worth noting that Northwest Bancshares recently announced a significant all-stock acquisition of Penns Woods Bancorp, valued at approximately $270.4 million. This merger is expected to strengthen Northwest's presence in North Central and Northeastern Pennsylvania, creating a combined entity with over $17 billion in pro forma total assets.

• RENN Fund, Inc. (NYSE:RCG): Murray Stahl, President and CEO of RENN Fund, Inc., has expanded his holdings in the company. Stahl purchased 1,242 shares at $2.80 each, totaling $3,477. The transactions were made through various entities associated with Stahl, including his spouse and several corporations. Following these purchases, Stahl's direct holding in the company increased to 54,702 shares.

• Midland States Bancorp, Inc. (NASDAQ:MSBI): Gerald Joseph Carlson, a director at Midland States Bancorp, Inc., acquired 1,000 shares of the company's common stock at $20 per share, totaling $20,000. This purchase increased Carlson's direct ownership to 2,000 shares. The timing of this purchase is notable as the stock is currently trading at just 0.69 times book value, according to InvestingPro analysis.

• Burke & Herbert Financial Services Corp. (NASDAQ:BHRB): Shawn Patrick McLaughlin, a director at Burke & Herbert Financial Services Corp., purchased 1,000 shares of common stock at prices ranging from $62.75 to $63.25, totaling an investment of $63,000. Following these transactions, McLaughlin's direct ownership increased to 62,000 shares, with an additional 1,000 shares held indirectly through an affiliated company.

Top Insider Sells:

• GitLab Inc. (NASDAQ:GTLB): While specific details of the sell transaction were not provided, it was noted that an insider acquired 9,251 shares through the conversion of stock options at no cost.

• Intel Corp . (NASDAQ:INTC): A director at Intel Corp. sold shares valued at approximately $2.06 million. The sale involved non-derivative securities, with prices ranging between $131.49 and $133.38 per share.

• Customers Bancorp, Inc. (NYSE:CUBI): Glenn Hedde, President of Mortgage Warehouse Lending at Customers Bancorp, Inc., sold 15,815 shares of common stock at $58.25 each, totaling $921,223. Following this sale, Hedde retains ownership of 55,211 shares, including 18,547 restricted stock units.

• Alphabet Inc. (NASDAQ:GOOGL): Frances (BCBA:BBARm) Arnold, a director at Alphabet Inc., sold 110 shares of the company's Class C Capital Stock at $200 each, totaling $22,000. After this transaction, Arnold retains ownership of 16,819 shares of Alphabet's Class C Capital Stock.

• BlackRock (NYSE:BLK) California Municipal Income Trust (NYSE:BFZ): Saba Capital Management, L.P., a significant shareholder, sold 103,231 shares of the trust's common stock at $11.17 per share, amounting to approximately $1.15 million. Following this sale, Saba Capital now owns 5,026,079 shares of BlackRock California Municipal Income Trust.

Investors should stay tuned to insider buying and selling activities as they can provide valuable insights into a company's prospects. While insider transactions alone should not be the sole basis for investment decisions, they can offer clues about management's confidence in the company's future performance. However, it's important to consider these transactions in the context of broader market trends, company fundamentals, and individual investment goals.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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Check Point Stock Rises 7% as Q4 Earnings and Revenues Beat Estimates

Zacks

Check Point Software Technologies Ltd.'s CHKP shares gained 7.4% on Thursday after the company reported better-than-expected fourth-quarter 2024 results. This IT security solutions provider reported non-GAAP earnings of $2.70 per share, which beat the Zacks Consensus Estimate of $2.66. The figure met the top end of management’s guidance of $2.60-$2.70. The bottom line increased 5% from the year-ago quarter’s level of $2.57.

Find the latest earnings estimates and surprises on Zacks Earnings Calendar.

Check Point Software's earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters and met once, the average surprise being 1.6%.

Check Point Software’s fourth-quarter revenues of $703.7 million surpassed the consensus mark of $698.2 million and came above the mid-point of the previously guided range of $675-$715 million. The top line increased 6% year over year, mainly driven by an 8% increase in the company’s core Quantum Force appliance business and strong growth in the Harmony Email and Infinity Platform revenues.

Check Point Software Technologies Ltd. Price, Consensus and EPS Surprise

Check Point Software Technologies Ltd. price-consensus-eps-surprise-chart | Check Point Software Technologies Ltd. Quote

Check Point Fourth-Quarter Details

Security subscription revenues were $292.2 million, which increased 9.9% year over year. Products and licenses revenues increased 7.8% year over year to $170.6 million. The Zacks Consensus Estimate for security subscription and products and licenses revenues was pegged at $293 million and $162 million.

Total revenues from product and security subscriptions were $462.8 million, up 9.1% year over year. The consensus mark for the segment sales was pinned at $455 million.

Software updates and maintenance revenues increased to $240.9 million from $239.4 million reported in the year-ago quarter. The Zacks Consensus Estimate for software updates and maintenance revenues was pegged at $243 million.

As of Dec. 31, 2024, deferred revenues totaled $2 billion, up 5% year over year.

Non-GAAP gross profit increased 6% year over year to $623 million while gross margin remained unchanged at 89%. Non-GAAP operating expenses soared 12%, primarily due to an 18% increase in selling & marketing expenses and a 6% rise in research & development costs, partially offset by a 3% decline in general & administrative expenses. As a percentage of revenues, operating expenses increased to 45% from 42.5% in the year-ago quarter.

Non-GAAP operating income for the fourth quarter of 2024 totaled $306 million, down from $309 million reported in the year-ago quarter. Non-GAAP operating margin was 43.5%, which contracted 300 basis points due to higher operating expenses as a percentage of revenues.

Check Point’s FY24 Performance in Brief

For 2024, Check Point Software reported non-GAAP earnings of $9.16 per share, beating the Zacks Consensus Estimate of $9.11 and came above the mid-point of management’s guidance range of $8.70-$9.30. The bottom line increased 9% from the year-ago quarter’s earnings of $8.42 per share.

Check Point Software’s full-year revenues of $2.57 billion surpassed the consensus mark of $2.56 billion and came above the mid-point of the previously provided guidance range of $2.475-$2.625 billion. The top line increased 6% on a year-over-year basis.

Check Point’s Balance Sheet & Other Details

Check Point Software exited the fourth quarter with cash and cash equivalents, marketable securities and short-term deposits of $2.78 billion compared with the previous quarter’s $2.87 billion.

The company generated cash worth $249 million from operational activities in the fourth quarter and $1.06 billion in the full year. It repurchased stocks worth $325 million in the reported quarter and $1.3 billion in full-year 2024.

Check Point Initiates Q1 & FY25 Guidance

Check Point Software initiated guidance for the first quarter and full year 2025. For the first quarter, it projects revenues between $619 million and $649 million and non-GAAP EPS in the range of $2.13-$2.23. The Zacks Consensus Estimate for the first quarter’s top and bottom lines is currently pegged at $632.1 million and $2.23, respectively.

For the full year 2025, Check Point Software expects revenues of $2.66-$2.76 billion and non-GAAP EPS of $9.60-$10.20. The consensus mark for 2025 revenues and EPS is pinned at $2.70 billion and $9.90, respectively.

CHKP’s Zacks Rank & Stocks to Consider

Currently, Check Point Software carries a Zacks Rank #4 (Sell).

Gitlab GTLB, Planet Labs PBC PL and Fortinet FTNT are some top-ranked stocks that investors can consider in the broader Zacks Computer and Technology sector. GTLB, PL and FTNT carry a Zacks Rank #2 (Buy) each at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Gitlab shares have dropped 4% for the past year. The Zacks Consensus Estimate for GTLB’s full-year 2025 earnings is pegged at 63 cents per share, up 37% over the past 60 days, suggesting an increase of 215% from the year-ago quarter’s reported figure.

Planet Labs PBC shares have surged 152% in the past year. The Zacks Consensus Estimate for PL’s full-year fiscal 2025 loss has contracted to 15 cents from the year-ago quarter’s loss of 50 cents.

Fortinet shares have gained 52.2% for the past year. The Zacks Consensus Estimate for FTNT’s full-year 2025 earnings is pegged at $2.39 per share, up by a couple of pennies over the past 60 days, suggesting an increase of 6.5% from the year-ago quarter’s reported figure.

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Gen Digital Beats Third-Quarter Revenue Estimates On Strong Demand For Cybersecurity Tools

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Lam Research Q2 Earnings Beat: Can Strong Guidance Lift the Stock?

Zacks

Lam Research LRCX reported second-quarter fiscal 2025 results, wherein both top and bottom lines surpassed the Zacks Consensus Estimate.

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

LRCX reported second-quarter fiscal 2025 non-GAAP earnings of 91 cents per share, which beat the Zacks Consensus Estimate by 4.6%. The bottom line increased 7% on a year-over-year basis, primarily driven by higher revenues due to robust demand in DRAM and Foundry Logic and disciplined cost and operational management.

In the second quarter of fiscal 2025, LRCX reported revenues of $4.38 billion, which surpassed the consensus mark by 1.6%. The top line increased 5% from the year-ago quarter’s $4.17 billion.

Buoyed by better-than-expected second-quarter performance, Lam Research has released a strong outlook for the third quarter of fiscal 2025. LRCX stock has underperformed the Zacks Electronics - Semiconductors industry. In the past year, LRCX shares have lost 8.9% against the industry’s return of 42.9%. We expect that the company’s overwhelming quarterly performance, along with its upbeat outlook, will help LRCX stock to recover.

Lam Research Corporation Price, Consensus and EPS Surprise

Lam Research Corporation price-consensus-eps-surprise-chart | Lam Research Corporation Quote

LRCX’s Segment in Details

Lam Research’s System revenues were $2.63 billion (60% of the total revenues), up 9.7% from the previous quarter. System revenues grew 14.2% year over year. The reported figure missed the Zacks Consensus Estimate of $2.69 billion.

In the Customer Support Business Group, revenues for the reported quarter were $1.75 billion (40% of the total revenues), down 1.4% from the previous quarter and up 20% year over year. The figure beat the consensus mark of $1.61 billion.

LRCX’s Regions in Detail

China, Korea and Taiwan accounted for 31%, 25% and 17% of Lam Research’s total revenues, respectively, for the fiscal second quarter. Japan, Southeast Asia, the United States and Europe accounted for 8%, 7%, 9% and 3% of total revenues, respectively.

Operating Details of LRCX

The non-GAAP gross margin was 47.5%, which contracted 70 basis points (bps) from the previous quarter.

Non-GAAP operating expenses were $735 million, up 1.8% from the previous quarter. The non-GAAP operating margin was 30.7%, contracting 20 bps from the previous quarter’s 30.9%.

LRCX’s Balance Sheet & Cash Flow

As of Dec. 29, 2024, cash and cash equivalents were $5.67 billion compared with $6.08 billion as of Sept. 29, 2024.

Cash flow from operating activities was $742 million for the reported quarter, down from $1.57 billion in the previous quarter.

In the reported quarter, Lam Research paid out dividends of $297.6 million and repurchased shares worth $650 million.

LRCX Provides Strong Guidance

For third-quarter fiscal 2025, LRCX expects its revenues to be $4.65 billion (+/- $300 million). The Zacks Consensus Estimate for the same is pegged at $4.32 billion.

The non-GAAP gross margin is projected at 48% (+/-1%), whereas the non-GAAP operating margin is expected to be 32% (+/-1%).

Non-GAAP earnings per share are projected to be $1 (+/- 10 cents) on a diluted share count of 1.3 billion. The Zacks Consensus Estimate for the same is pinned at 87 cents per share.

Zacks Rank & Stocks to Consider

Currently, LRCX carries a Zacks Rank #4 (Sell).

Bill Holdings BILL, Marvell Technology MRVL and Gitlab GTLB are some better-ranked stocks that investors can consider in the broader Zacks Computer & Technology sector.

Bill Holdings, Marvell Technology and Gitlab sport a Zacks Rank #1 (Strong Buy) each at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The consensus mark for BILL’s 2025 earnings has been revised upward by 4 cents to $1.81 per share over the past 60 days, indicating a 13% year-over-year increase. BILL shares have gained 24.1% in the past year.

The consensus mark for MRVL’s 2025 earnings has been revised downward by 10 cents to $1.56 per share over the past 60 days, indicating a 3.31% year-over-year increase. MRVL shares have risen 52.3% in the past year.

The consensus mark for GTLB’s 2025 earnings has been revised upward by 17 cents to 63 cents per share over the past 60 days, indicating a 215% year-over-year increase. GTLB shares have lost 2.2% in the past year.

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Avnet Stock Plunges 10% as Q2 Earnings Miss Estimates, Down Y/Y

Zacks

Avnet AVT shares were trading 9.8% lower in the pre-market trade today as it delivered lower-than-expected second-quarter fiscal 2025 bottom-line results with non-GAAP earnings of 87 cents per share. Despite quarterly earnings complying with management’s guidance of 80-90 cents per share, it missed the Zacks Consensus Estimate by 1.14%. The bottom line declined 38% year over year, demonstrating a weaker operating margin compared to the previous year.

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

In the trailing four quarters, AVT’s earnings beat the Zacks Consensus Estimate twice and missed twice, the average surprise being 8.7%.

Avnet’s revenues of $5.7 billion for the second quarter of fiscal 2025 surpassed the consensus mark by 2.01% and came at the high-end management’s guidance of $5.4-$5.7 billion. However, the top line decreased by 9% on a year-over-year basis, reflecting challenging market conditions in the West specifically Europe, partially offset by the strong performance in Asia.

Avnet, Inc. Price, Consensus and EPS Surprise

Avnet, Inc. price-consensus-eps-surprise-chart | Avnet, Inc. Quote

Avnet’s Q2 2025 Details

The Electronic Components segment’s revenues were down 8.5% year over year but increased 1.2% sequentially to $5.32 billion. Our estimates for the Electronic Components segment’s revenues were pegged at $5.19 billion.

Farnell sales declined 12% year over year and 0.4% sequentially to $345.6 million. Our estimates for the Farnell segment’s revenues were pegged at $359.7 million.

From a regional perspective, on a year-over-year basis, sales increased 8.4% in Asia to $2.71 billion but declined 25.1% in EMEA to $1.58 billion and 13.8% in the Americas to $1.37 billion.

The adjusted operating income came in at $159.5 million, which decreased 34.2% year over year. The adjusted operating income for the Electronic Components segment declined 27% to $182 million, while that for Farnell’s fell 78% to $3 million.

Avnet’s adjusted operating margin shrank 110 bps to 2.8% from the year-ago quarter. Electronic Components adjusted operating margin contracted 85 bps to 3.4%, while Farnell’s declined 299 bps to 1%.

AVT’s Balance Sheet & Cash Flow

As of Dec. 28, 2024, AVT had cash and cash equivalents of $172.1 million compared with $267.5 million reported at the end of Sept. 30, 2024.

The long-term debt was $2.57 billion as of Dec. 28, 2024, higher than the $2.43 billion reported in the previous quarter. Avnet generated $338 million of cash from operational activities during the fiscal second quarter of fiscal 2025.

In the third quarter, AVT repurchased approximately $51 million worth of shares, representing 1.1% of shares outstanding. AVT returned $29 million to shareholders in dividends.

AVT’s Q3 Guidance Not So Promising

For the third quarter of fiscal 2025, Avnet anticipates revenues in the range of $5.05-$5.35 billion (midpoint of $5.20 billion). The Zacks Consensus Estimate for revenues is pegged at $5.59 billion, suggesting a year-over-year decline of 1.1%.

AVT expects non-GAAP earnings in the range of 65-75 cents per share. The consensus mark for the bottom line is pinned at $1.09, suggesting a year-over-year decline of 0.9%.

The aforementioned guidance suggests a sequential decline in sales between 6% and 11%. In comparison to normal seasonal sales growth, this sales guidance suggests anticipations of modest sales declines in the western regions and seasonal sales declines in Asia as a result of the Lunar New Year.

Zacks Rank & Stocks to Consider

Currently, AVT carries a Zacks Rank #4 (Sell).

Fortinet FTNT, Planet Labs PBC PL and Gitlab GTLB are some better-ranked stocks that investors can consider in the broader Zacks Computer & Technology sector. PL and GTLB sport a Zacks Rank #1 (Strong Buy) each, while FTNT carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

GTLB shares have dropped 1.1% for the past year. The Zacks Consensus Estimate for GTLB’s full-year 2025 earnings is pegged at 63 cents per share, up 37% over the past 60 days, suggesting an increase of 215% from the year-ago quarter’s reported figure.

PL shares have surged 145.5% in the past year. The Zacks Consensus Estimate for PL’s full-year fiscal 2025 loss has contracted to 15 cents from the year-ago quarter’s loss of 50 cents.

FTNT shares have gained 54% for the past year. The Zacks Consensus Estimate for FTNT’s full-year 2025 earnings is pegged at $2.39 per share, up by a couple of pennies over the past 60 days, suggesting an increase of 6.5% from the year-ago quarter’s reported figure.

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