GEN Digital Q3 Profit Rises

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(RTTNews) - Gen Digital Inc. (GEN) a multinational software company, Thursday reported an increase in profit for the third quarter.

Third-quarter net income was $159 million or $0.26 per share, an increase from $142 million or 0.22 per share during the same period in the year before.

GEN's net income increased due to higher revenues, improved gross profit, reduced operating expenses, and lower interest expenses, despite an increase in income tax expense.

Adjusted net income was $350 million or $0.26 per share, an increase from $315 million or $0.22 per share in the same quarter last year.

Net sales for the third quarter were $986 million, a jump from $948 million in the third quarter last year.