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Avast Q3 revenues up, sees FY in line with expectations

By Frank Prenesti

Date: Thursday 18 Oct 2018

Avast Q3 revenues up, sees FY in line with expectations

(Sharecast News) - Cybersecurity company Avast said third-quarter adjusted revenue rose by 8.6% to $206.3m, adding it remained confident full year results would be in line with expectations.
The figure excluded forex and discontinued business, Avast said. For the nine months to September 30, adjusted revenue was up 8.5% at constant exchange rates to $600.6m.

Third quarter adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) rose 5.5% to $113.5m and was up 8.8% to $335.6mln in the year so far.

Avast reiterated full-year guidance for high single-digit adjusted revenue growth and also reaffirmed the upgrade stated at its half-year results to adjusted EBITDA margin percentage, which, due to operational improvements, it expected to be flat to slightly increasing year-on-year inclusive of annualised PLC costs of $7m.

Chief executive Vince Steckler said the company's "cost-effective user acquisition model and large, global user base of more than 435mln users remain key competitive strengths for the business"

"We continue to execute our strategy with confidence, and our expectations for the full year remain unchanged."

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