Oct 30 (Reuters) - Gen Digital ( GEN ) on Wednesday

forecast third-quarter revenue above Wall Street estimates,

signaling robust demand from customers who prioritize spending

on its cybersecurity products while adopting data-intensive

GenAI tech.

Gen Digital ( GEN ), which provides consolidated cybersecurity

platforms for one subscription fee, has benefited from

businesses doubling down on data and enterprise protection as

they look to integrate booming generative AI technology.

AI applications employ hoards of data, which could include

companies' internal information in the case of enterprise AI,

necessitating cybersecurity guardrails.

The company expects third-quarter revenue between $980

million to $990 million, compared with analysts' average

estimates of $978.3 million, according to data compiled by LSEG.

The company's shares rose about 2% in extended trading.

Gen Digital ( GEN ) forecast adjusted profit between 54 cents per

share to 56 cents per share for the third quarter, in line with

estimates of 55 cents.

A surge in digital scams, online threats and high-profile

cybersecurity incidents has triggered robust demand for

companies such as Gen Digital ( GEN ).

Revenue for the second-quarter ended Sept. 27 rose 3% to

$974 million, beating estimates of $969.9 million. Adjusted

profit per share came in at 54 cents, in line with estimates.

The company also raised the lower end of its 2024 revenue

forecast. It now expects between $3.91 billion to $3.93 billion,

compared to the prior range of $3.89 billion to $3.93 billion.