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Share Price:
Down 490.20p
Change Today:
-2.70p
Market Cap:
5,049m
Sector:
Software & Computer Services

Avast reaffirms FY guidance as Q3 earnings, revenue rise

By Michele Maatouk

Date: Wednesday 21 Oct 2020

LONDON (ShareCast) - (Sharecast News) - Cybersecurity provider Avast reaffirmed its full-year guidance on Wednesday as it posted a rise in third-quarter earnings and revenue.
For the period from 1 July to 30 September, adjusted revenue increased 8.6% on an organic basis to $226m, or 2.6% at actual rates. In the year to date, adjusted revenue was up 7.3% on an organic basis to $659.1m, or 1.9% higher at actual rates.

Adjusted earnings before interest, tax, depreciation and amortisation rose 3.3% to $126m in the third quarter, and 2.5% in the year to date to $367.3m.

Avast said user and customer trends normalised with the easing of coronavirus lockdowns and that the consumer desktop business continued to perform well and in-line with pre-pandemic levels.

The company said that due to strong demand in the second quarter, revenue growth is expected to continue to outpace billings growth in the second half of the year. It reaffirmed 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.

Chief executive Ondrej Vlcek said: "As cyber-attackers have intensified their efforts through the pandemic to exploit digital vulnerabilities, Avast has been on the front line in protecting people's personal information and privacy.

"The value of Avast's services and technologies is reflected in the company's resilient financial performance, which underpins continued investment in our growth and focus on innovation."



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Avast Market Data

Currency UK Pounds
Price 490.20p
Change Today -2.70p
52 Week High 600.00p
52 Week Low 420.00p
Volume 719,817
Shares Issued 1,030.01m
Market Cap 5,049m

Performance Indicators

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What The Brokers Say

Strong Buy 11
Buy 0
Neutral 1
Sell 0
Strong Sell 1
Total 13
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Avast Dividends

  Latest Previous
  Final Interim
Ex-Div 13-May-21 10-Sep-20
Paid 18-Jun-21 16-Oct-20
Amount 11.20¢ 4.80¢

Trades for 22-Jun-2021

Time Volume / Share Price
14:54 607 @ 490.20p
14:54 6 @ 490.20p
14:54 12 @ 490.10p
14:54 141 @ 490.10p
14:54 978 @ 490.00p

Avast Key Personnel

Chair John Schwarz
CFO Philip Marshall
CEO Ondrej Vlcek