Gen Digital shares are trading lower after the company reported worse-than-expected Q3 financial results and issued Q4 revenue, FY24 adjusted EPS and FY24 revenue guidance below estimates.
Portfolio Pulse from Benzinga Newsdesk
Gen Digital's stock is trading lower following the announcement of disappointing Q3 financial results and guidance for Q4 revenue, FY24 adjusted EPS, and FY24 revenue that fell short of expectations.
February 01, 2024 | 9:40 pm
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NEGATIVE IMPACT
Gen Digital's shares are down due to poor Q3 financial performance and pessimistic future revenue and earnings guidance.
The negative impact on Gen Digital's stock price is directly related to the company's announcement of worse-than-expected financial results for Q3 and lower-than-anticipated guidance for Q4 revenue, FY24 adjusted EPS, and FY24 revenue. This kind of financial performance and outlook typically leads to a loss of investor confidence and a decrease in stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100