Avast hails continued revenue growth

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Avast hails continued revenue growth
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FTSE 250 cyber-security firm Avast (LON:AVST) increased adjusted revenues for the third quarter by 7.2% to $209.8 million as growth trends from the first half continued into the second. Adjusted EBITDA for the three months to 30th September was 5.5% higher than the same period last year at $113.5 million.

Chief executive Vince Steckler said: “I’m pleased to report that Avast has delivered good growth in the third quarter, consistent with our expectations at the time of the Half Year Results in August. We’ve also been successful in maintaining our market-leading levels of profitability, on account of the Group’s significant scale and operating leverage.

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

Shares in Avast were up by 1.46% at 289.35p (as of 11:45 BST).

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