Sophos shares rise despite Q1 losses

The price of shares in cyber-security outfit Sophos (LON:SOPH) has risen by 4.09% to 429.60p (as 11:00 BST) after it announced billings for the three months ended 30th June were up by 5%. However, the company booked a loss of $4 million for the quarter, significantly down from the $7.3 million during the same period of 2018.

CEO Kris Hagerman commented: “This has been an encouraging start to the year which underpins our confidence in our prospects for the full year. The demand environment continues to be strong, and as we noted at the full-year, we believe we have a highly effective and differentiated next-generation security product portfolio that positions Sophos very well. Along with encouraging overall company growth, we saw significant continued growth in our next-generation products, including Sophos Central, Intercept X endpoint, XG Firewall, and our MSP business. Consequently, we believe we are well positioned for continued future growth“.