Thu, May 16, 10:03 AM (219 days ago)
**Abstract/Summary:** Gen Digital Inc. filed its annual report for the fiscal year ending March 29, 2024. The company reported a 14% increase in net revenues to $3,812 million, driven by higher sales in consumer security and identity protection products, and contributions from the acquisition of Avast. Operating income decreased by $105 million to $1,122 million due to increased legal accruals and amortization costs. Net income fell to $616 million from $1,349 million, primarily due to the absence of a prior year's tax benefit and increased interest expenses. Cash and cash equivalents rose by $96 million to $846 million, bolstered by strong operating cash flows. The company repaid $1,183 million in debt and repurchased $441 million in common stock. Gen Digital's strategic focus includes extending market reach, increasing customer value, and improving customer retention. The company faces risks from high competition, macroeconomic factors, and regulatory changes. Future outlook emphasizes innovation, customer growth, and global expansion.