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Gen Digital (GEN) Q1 FY2023 earnings: revenue $707 million, up 3.1% on the year

Gen Digital Inc. (GEN) reported revenue of $707 million for Q1 FY2023, the quarter ended 1 July 2022, up 3.1% on the same quarter a year earlier. Net income was $200 million, up 10.5% on the year, and diluted earnings per share $0.33. The figures are the company's own, from the 10-Q it filed with the SEC on 5 August 2022.

Revenue$707 millionup 3.1%
Net income$200 millionup 10.5%
Diluted EPS$0.33
QuarterQ1 FY2023ended 1 July 2022

The quarter, against the one before and a year earlier

LineQ1 FY2023Q4 FY2022A year earlierChange on the year
Revenue707716n/an/a
Cost of revenue102101n/an/a
Gross profit605615n/an/a
Gross margin85.6%85.9%n/a
Research and development61.059.0n/an/a
Operating income261129n/an/a
Operating margin36.9%18.0%n/a
Pre-tax income22996.0n/an/a
Income tax29.0-24.0n/an/a
Effective tax rate12.7%-25.0%n/a
Net income200120n/an/a
Net margin28.3%16.8%n/a
Diluted EPS$0.33$0.20n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ1 FY2023Q4 FY2022A year earlierChange on the year
Operating cash flow215326n/an/a
Capital expenditure2.02.0n/an/a
Free cash flow213324n/an/a
Free cash flow margin30.1%45.3%n/a
Cash from investing4.010.0n/an/a
Cash from financing-807-217n/an/a
Depreciation and amortisation29.032.0n/an/a
Share-based compensation24.019.0n/an/a
Buybacks3000.0n/an/a
Dividends paid81.073.0n/an/a
Dividend per share$0.12n/an/an/a
Diluted shares, weighted604m591mn/an/a
Shares outstanding at period end571m582mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ1 FY2023Q4 FY2022A year earlierChange on the year
Shareholders' equity-299-93.0n/an/a
Debt3,3283,736n/an/a
Operating lease liabilities69.075.0n/an/a
Other liabilities3,1493,225n/an/a
Total liabilities and equity6,2476,943n/an/a
Fixed assets56.060.0n/an/a
Goodwill2,8612,873n/an/a
Intangible assets9931,023n/an/a
Investments0.04.0n/an/a
Cash and equivalents1,2911,887n/an/a
Receivables102120n/an/a
Other assets944976n/an/a
Total assets6,2476,943n/an/a

Questions

What was Gen Digital's revenue in Q1 FY2023?

Gen Digital (GEN) reported revenue of $707 million for Q1 FY2023, the quarter ended 1 July 2022, up 3.1% on the same quarter a year earlier.

How much did Gen Digital earn in Q1 FY2023?

Net income for Q1 FY2023 was $200 million, up 10.5% on the year, and diluted earnings per share $0.33.

When did Gen Digital report Q1 FY2023 results?

Gen Digital filed its 10-Q for the quarter ended 1 July 2022 with the SEC on 5 August 2022.

Quarterly results, the last 20 quarters

Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024 †Q2 FY2024 †Q3 FY2024 †Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026Q4 FY2026 *Q1 FY2027
Revenue6927027167077489369479439459489679659749861,0101,2571,2201,2401,2831,336
Cost of revenue100105101102119178190179180182190190194193199267266268276307
Gross profit5925976156056297587577647657667777757807938119909549721,0071,029
Gross margin86%85%86%86%84%81%80%81%81%81%80%80%80%80%80%79%78%78%78%77%
R&D66.060.059.061.073.091.088.090.085.077.080.081.083.084.081.010910096.0104118
Operating income28730212926124136835735922.0332400417402374417446438433803443
Operating margin41%43%18%37%32%39%38%38%2%35%41%43%41%38%41%35%36%35%63%33%
Pre-tax income43326196.0229195216164201-144178215276258208287300233309669323
Tax rate23%23%-25%13%65%24%-458%7%n/a20%38%34%38%24%51%55%42%38%23%33%
Net income33320212020069.0165915187147142134181161159142135134192512215
Net margin48%29%17%28%9%18%97%20%16%15%14%19%17%16%14%11%11%15%40%16%
Diluted EPS$0.56$0.34$0.20$0.33$0.12$0.25$1.42$0.29$0.23$0.22$0.21$0.29$0.26$0.26$0.23$0.22$0.21$0.31$0.84$0.36
Operating cash flow60.0330326215-88.03063242261253151,398264158326473409116541479434
Capital expenditure1.02.02.02.02.01.01.04.05.08.03.02.02.08.03.04.09.06.03.04.0
Free cash flow59.0328324213-90.03053232221203071,395262156318470405107535476430
Buybacks0.00.00.03001045000.041.00.01003002720.00.00.01340.0300200100
Dividends paid73.073.073.081.072.081.080.083.081.081.078.082.077.077.077.082.077.077.076.081.0
Shares outstanding582m582m582m571m661m639m640m639m641m637m623m615m616m616m617m616m617m606m598m599m
Filing10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 1 July 2022, filed 5 August 2022: the filing.