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Avast reaffirms guidance as third-quarter earnings rise
StockMarketWire.com
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Cybersecurity company Avast reaffirmed its outlook after reporting a rise in earnings and revenue in the third quarter.
For the period from 1 July 2020 to 30 September 2020, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased 3.3% to $126.0 million year-on-year and adjusted revenue rose 2.6% to $226.0 million.
Avast said adjusted revenue percentage growth overtook adjusted billings percentage growth in the third quarter, as user and customer trends normalised with the easing of lockdowns.
Looking ahead, the company said revenue growth would continue to outpace billings growth in the second half.
'The group reaffirms its FY 2020 outlook for adjusted Revenue to be at the upper end of mid-single digit growth, and a broadly flat adjusted EBITDA margin percentage,' it added.
Story provided by StockMarketWire.com
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