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Avast Q1 revenue rises, FY outlook reaffirmed

By Michele Maatouk

Date: Thursday 18 Apr 2019

Avast Q1 revenue rises, FY outlook reaffirmed

(Sharecast News) - Cybersecurity firm Avast posted a rise in first-quarter revenue on Thursday as it reaffirmed its full-year outlook.
In the period from 1 January to the end of March 2019, adjusted revenue pushed up 6.1% to $211.8m, while adjusted revenue excluding discontinued business and the sale of Managed Workplace, was up 8.5% at $209.1m.

Meanwhile, adjusted earnings before interest, tax, depreciation and amortisation increased 5.4% to $117.5m, resulting in an adjusted EBITDA margin of 55.5%.

Chief executive Vince Steckler said: "We have started the year well. Our first quarter performance has been strong, continuing the trading momentum seen in the second half of 2018.

"The group's cost-effective user acquisition model and large, global user base of more than 435m users remain key competitive strengths for the business. Our market-leading levels of profitability and strong cash generation mean we continue to execute our growth strategy with confidence, and group expectations for the full year remain unchanged."

Avast said it continues to expects high single digit adjusted revenue growth for 2019, excluding FX, discontinued business and the sale of Managed Workplace, and a broadly flat adjusted EBITDA margin.

At 0915 BST, the shares were up 3.7% to 294.60p.



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