NortonLifeLock gets provisional UK approval for Avast merger; Q1 revenue up 3% to $707M

Gen Digital Inc.

2023-Q1 EPS reported $0.33 revenue$27,000,000

UK CMA provisionally approved Avast acquisition; expected to close mid-Sept to early-Oct.
Q1 GAAP revenue $707M (+3%), GAAP diluted EPS $0.33 (+6%), operating cash flow $215M (-17%).
Non-GAAP revenue $708M (+2% USD, +6% CC); Non-GAAP EPS $0.45 (+7%).
Bookings $663M (+1% USD, +5% CC) — 12th consecutive quarter of bookings growth.
Q2 guidance: Non-GAAP revenue $695-705M, Non-GAAP EPS $0.44-0.46; dividend $0.125/share.

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