Gen Digital Inc Q1 2024 Earnings Call Summary - Thomson StreetEvents

Gen Digital Inc Q1 2024 Earnings Call Summary

Gen Digital Inc Q1 2024 Earnings Call Summary - Thomson StreetEvents
Gen Digital Inc Q1 2024 Earnings Call Summary
Published Aug 03, 2023
11 pages (6403 words) — Published Aug 03, 2023
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Abstract:

Edited Brief of GEN.OQ earnings conference call or presentation 3-Aug-23 9:00pm GMT

  
Brief Excerpt:

...A. This quarter marks our 16th consecutive quarter of growth, with Q1 cybersafety bookings and revenue, both up low single digits in constant currency when including Avast historical results in the base. B. We continue to make progress with our direct customer count, reducing our gap between acquisition and churn in the post-COVID environment and on our way to breakeven. C. With operational integration essentially complete, we expanded our operating margin by another 50 basis points sequentially and 6 points since the Avast merger, which only started 9 months ago. D. We expanded our earnings power, growing EPS, 5% in U.S. dollars and 9% in constant currency. E. Today, Gen touches hundreds of millions of people with our free services and 65 million subscribers, direct and indirect with our premium offerings. F. And at the end of Q1, 60% of the people we serve were outside the U.S versus 40% 2 years ago. G. Our Q1 international growth was supported by positive customer count and expanding...

  
Report Type:

Brief

Source:
Company:
Gen Digital Inc
Ticker
GEN.OQ
Time
9:00pm GMT
Format:
PDF Adobe Acrobat
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The following is excerpted from the question-and-answer section of the transcript.

(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)

Question: Peter Marc Levine - Evercore ISI Institutional Equities, Research Division - Analyst : Congrats on a good quarter, sort of fiscal year. Vincent, maybe 1 for you and then a follow-up for Natalie. You mentioned doubling down on innovation. You mentioned, Genie, new AI power tool that you're offering for free. But maybe can you maybe dive into it and explain, I mean, is this an opportunity to kind of down the road charge, have an up charge customers? Or are you viewing this more as a retention tool? And then as you think about I think expanding out in your commentary, touching upon other areas of consumers, security life. What other areas do you think are attractive, I think, longer term to start thinking about now? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 03, 2023 / 9:00PM, GEN.OQ - Q1 2024 Gen Digital Inc Earnings Call


Question: Peter Marc Levine - Evercore ISI Institutional Equities, Research Division - Analyst : And then Natalie, you talked about seeing positive customer growth this year. Maybe 1 is just what gives you the confidence of what are you seeing today that you're going to hit that inflection point? And then second, you talked about operating -- impressive to see the Avast churn improve, I think you mentioned there was operating efficiencies to go beyond further that you're working on this year. Can you maybe dive into that and kind of tell us what you're doing today to kind of get that number even higher to where the Norton number is?


Question: Peter Marc Levine - Evercore ISI Institutional Equities, Research Division - Analyst : Congrats on a very good quarter.

Table Of Contents

Gen Digital Inc Annual Shareholders Meeting Summary – 2024-09-10 – US$ 54.00 – Edited Brief of GEN.OQ shareholder or annual meeting 10-Sep-24 4:00pm GMT

Gen Digital Inc Annual Shareholders Meeting Transcript – 2024-09-10 – US$ 54.00 – Edited Transcript of GEN.OQ shareholder or annual meeting 10-Sep-24 4:00pm GMT

Gen Digital Inc. 1st Anniversary Investor Update Summary – 2023-11-07 – US$ 54.00 – Edited Brief of GEN.OQ conference call or presentation 7-Nov-23 3:30pm GMT

Gen Digital Inc. 1st Anniversary Investor Update Transcript – 2023-11-07 – US$ 54.00 – Edited Transcript of GEN.OQ conference call or presentation 7-Nov-23 3:30pm GMT

Gen Digital Inc Q1 2024 Earnings Call Transcript – 2023-08-03 – US$ 54.00 – Edited Transcript of GEN.OQ earnings conference call or presentation 3-Aug-23 9:00pm GMT

Gen Digital Inc Q4 2023 Earnings Call Summary – 2023-05-11 – US$ 54.00 – Edited Brief of GEN.OQ earnings conference call or presentation 11-May-23 9:00pm GMT

Gen Digital Inc Q4 2023 Earnings Call Transcript – 2023-05-11 – US$ 54.00 – Edited Transcript of GEN.OQ earnings conference call or presentation 11-May-23 9:00pm GMT

Gen Digital Inc at Morgan Stanley Technology, Media & Telecom Conference Transcript – 2023-03-06 – US$ 54.00 – Edited Transcript of GEN.OQ presentation 6-Mar-23 5:50pm GMT

Gen Digital Inc Q3 2023 Earnings Call Summary – 2023-02-02 – US$ 54.00 – Edited Brief of GEN.OQ earnings conference call or presentation 2-Feb-23 10:00pm GMT

Gen Digital Inc Q3 2023 Earnings Call Transcript – 2023-02-02 – US$ 54.00 – Edited Transcript of GEN.OQ earnings conference call or presentation 2-Feb-23 10:00pm GMT

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MLA:
Thomson StreetEvents. "Gen Digital Inc Q1 2024 Earnings Call Summary" Aug 03, 2023. Alacra Store. May 23, 2025. <http://www.alacrastore.com/thomson-streetevents-transcripts/Q1-2024-Gen-Digital-Inc-Earnings-Call-B15660332>
  
APA:
Thomson StreetEvents. (2023). Gen Digital Inc Q1 2024 Earnings Call Summary Aug 03, 2023. New York, NY: Alacra Store. Retrieved May 23, 2025 from <http://www.alacrastore.com/thomson-streetevents-transcripts/Q1-2024-Gen-Digital-Inc-Earnings-Call-B15660332>
  
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