Cybersecurity firm Avast reports boosted revenue growth

Cybersecurity firm Avast reported year-on-year revenue growth of 6.1 per cent in the first quarter of 2019.

Adjusted revenue for the first three months of this year was $211.8m, up 6.1 per cent from $199.6m in the first quarter of 2018.

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The firm said adjusted revenue excluding discontinued business, foreign exchange and the sale of managed workplace, was up 9.1 per cent from $192.7m to $209.1m.

Adjusted earnings also increased 5.4 per cent to $117.5m.

Last month, the group paid down $200m of debt using cash on the balance sheet, Avast said today.

Avast 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.

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“The groups cost-effective user acquisition model and large, global user base of more than 435m users remain key competitive strengths for the business.

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