Gen Digital (NASDAQ: GEN) stock lost substantial ground in Friday's trading. The company's share price closed out the daily session down 11.2%, according to data from S&P Global Market Intelligence.

Gen Digital published results yesterday for the third quarter of its current fiscal year, a period that concluded on Dec. 29, 2023. Performance for the quarter came in below the market's expectations, and the company issued guidance that fell short of Wall Street's targets.

Gen Digital posted non-GAAP (adjusted) earnings per share of $0.49 on revenue of $951 million in fiscal Q3. Meanwhile, the average analyst estimate had called for the business to post per-share earnings of $0.50 on sales of roughly $956.6 million.

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Source Fool.com