Cybersecurity demand, MoneyLion acquisition raise Gen Digital’s annual revenue forecast

Cybersecurity demand, MoneyLion acquisition raise Gen Digital’s annual revenue forecast

The continuous high-profile data breaches and online threats have necessitated companies to seek digital identity protection services

Multinational software company Gen Digital has raised its annual revenue forecast for a second consecutive quarter.

This is a result of the robust demand for its cybersecurity products and the acquisition of fintech firm MoneyLion.

The constant high-profile data breaches and online threats have led to the sustained demand for consumer cybersecurity and digital identity protection services.

Vincent Pilette, CEO of Gen Digital, stated, "The momentum through the first half was the broad-based, and then financial services accelerating is what gave us the confidence to raise the forecast.”