Gen Digital Inc. - GEN STOCK NEWS

Gen celebrates Cybersecurity Awareness Month by highlighting initiatives with partners Czechitas, Women4Cyber, and nasscom foundation to promote women in tech and cybersecurity education. The campaign focuses on four key protection strategies: using strong passwords with password managers, enabling multi-factor authentication, recognizing phishing attempts, and keeping software updated. The company emphasizes its commitment to diversifying the cybersecurity workforce through partnerships that provide training and mentoring programs for women across Europe and India.

Gen's Q3/2024 Threat Report reveals alarming cybersecurity trends, including a 614% increase in 'Scam-Yourself Attacks' where users are tricked into installing malware. Data stealing malware activity rose 39%, with Lumma Stealer increasing by 1154%. Ransomware threats doubled in risk ratio, while mobile threats escalated with spyware growing 166% and banking malware up 60%. The report identifies various attack methods including fake tutorials, ClickFix scams, FakeCaptcha, and fake updates. Norton Genie data shows smishing attempts (16.5%), lottery scams (12%), and package delivery scams (9.6%) as prevalent threats.

Gen and Save the Children have successfully trained over 10,000 students, parents, and educators in India on cyber safety skills between March 2023 and April 2024. The initiative, implemented through Gen's Norton brand, reached 8,300 children, 1,210 parents, 635 SMC members, and 275 teachers across 40 schools in Pune and Thiruvallur. The program achieved an 81% increase in participants' cyber safety knowledge. Additional awareness campaigns through digital and on-ground activations reached nearly 207,000 people indirectly, while social media engagement touched approximately 263,000 people. The initiative addresses rising cybercrime concerns in India, where child cybercrime increased by 32% in one year.

Gen has partnered with HBCU Heroes throughout 2024 to mentor students from Historically Black Colleges and Universities (HBCUs). The collaboration includes a $20,000 donation and direct mentorship from Gen team members to HBCU students from institutions including Tennessee State University, Johnson C. Smith University, and North Carolina A&T State University.

The program focuses on developing professional skills through quarterly virtual meetups, covering topics like resume building, interviewing, and LinkedIn networking. The initiative, which concluded its inaugural cohort on October 22, received positive feedback from both mentors and students, highlighting the importance of representation and professional guidance in corporate settings.

Gen Digital (NASDAQ: GEN) reported strong Q2 FY2025 results with revenue reaching $974 million, up 3% year-over-year. The company's operating income surged 1,727% to $402 million, with operating margin expanding 39 points to 41.3%. Q2 bookings grew 4% to $964 million, while diluted EPS increased 13% to $0.26. The company raised its FY2025 guidance, now expecting revenue between $3,905-$3,930 million and EPS of $2.18-$2.23. Gen also declared a quarterly dividend of $0.125 per share, payable on December 11, 2024.

Norton's 2024 Cyber Safety Insights Report reveals that 48% of U.S. consumers were targeted by scams while holiday shopping online, with 53% worried about Black Friday and Cyber Monday scams. The report shows 60% of Americans plan to do most holiday shopping online, while cybersecurity concerns are rising year-over-year: 71% worry about personal data compromise (+8%), 59% fear third-party retailer scams (+9%), and 59% are concerned about AI shopping scams (+11%). During last year's holiday season, malvertising attacks increased by 53% and adware by 227%. Despite risks, 37% of Americans have purchased holiday gifts through social media ads, primarily on Facebook (60%), Instagram (48%), and TikTok (40%).

A new Norton survey reveals that over half of Americans (56%) have been targeted by election-related scams, with younger voters under 35 being the most affected. Key findings include:

- 66% of those aged 25-34 reported encounters with election scams
- 19% of targeted individuals fell victim, with 88% reporting financial losses averaging $7,200
- Top concerns include fake news/disinformation (43%), fake polls/surveys (31%), and voter registration scams (31%)
- Common scams include robocalls (37% targeted), fake news/disinformation (20%), and political donation scams (19%)

The survey also found that 82% of respondents plan to vote, but 40% express concerns about polling station legitimacy. Norton recommends verifying sources, being cautious when donating, and reporting suspicious activity to stay safe during the election season.

Gen Digital Inc. (NASDAQ: GEN) has announced that it will release its fiscal 2025 second quarter financial results on Wednesday, October 30, 2024, after the market closes. Following the press release, Gen management will host a conference call and webcast at 2 p.m. PT / 5 p.m. ET on the same day.

Investors and interested parties can access the conference call dial-in information and live webcast link on the company's investor relations website at Investor.GenDigital.com. This announcement provides shareholders and analysts with the opportunity to review Gen Digital's financial performance for the second quarter of fiscal year 2025 and participate in a discussion with the company's management team.

Norton Benefit Solutions, the employee benefits division of Gen™ (NASDAQ: GEN), has expanded its global offerings to help employers protect their employees' digital lives. The expansion covers the US, EMEA, LatAm, and Asia, providing all-in-one Cyber Safety solutions through benefits programs.

The company's plans focus on three pillars: online privacy, security, and identity protection. Employees are equipped with a MyNorton portal to manage all features. The plans are tailored to each market and include protection for online privacy, security against malware threats, and identity protection using proprietary technology.

Norton Benefit Solutions has a 16-year track record, serving over 10,000 companies with a 99.8% retention rate. The company offers dedicated support teams and turnkey benefit administration at competitive values for employees.