Gen Digital Inc. (GEN), a global software enterprise, announced a rise in profits for the third quarter on Thursday.
The company's net income for the third quarter reached $159 million, or $0.26 per share, up from $142 million, or $0.22 per share, during the same quarter last year.
This increase in GEN's net income is attributed to higher revenues, enhanced gross profit, reduced operating costs, and decreased interest expenses, despite a rise in income tax expenditure.
Furthermore, adjusted net income was reported at $350 million, or $0.26 per share, up from $315 million, or $0.22 per share, during the same period the previous year.
Net sales for the third quarter stood at $986 million, marking an increase from $948 million in the corresponding quarter of the previous year.
