LONDON (Reuters) – cyber security firm, Avast, said that the demand for its products, which protects the privacy of the users, such as VPN, AntiTrack, the growth rate of its earnings for the year to the upper end of the high single-digit percentage range after its 9% growth in the first half.
FILE PHOTO: The logo is from Avast Software company headquartered in Prague, Czech Republic, April 12, 2018. REUTERS/David W Cerny
The london-listed Avast, which has grown by way of a “freemium” model, giving away basic anti-virus software, and then use the sale of ancillary services, said customers are becoming more and more aware of online risks.
“AntiTrack, it helps to stop the tracking from advertisers and other data collectors, that the Chief Executive, Ondrej Vlcek said in an interview.
“It makes it that much more difficult for advertisers and others who want to follow you on the Internet in order to do that.”
While it has seen strong demand for its high-security web browser, ” he said, with the number of active users will rise to around 40 million. The company monetizes the web browser to search for sales and advertising, ” he said.
Of shares in the Prague-based Avast!, which is out in May 2018, rising from 322 pence in early trading on Wednesday following the results.
The company has reported a 9.2% rise in first-half adjusted revenue to $421.7 million, ahead of a company supplied consensus estimate of $414 million, respectively.
Adjusted core earnings rose 6.5%, to $236.5 million, beating a forecast of $229 million.
Cyber security stocks were increased as a result of chipmaker Broadcom’s acquisition of security software maker Symantec Corp.’s enterprise unit this month.
Vlcek said While it was looking for deals of their own. “We are constantly on the look out for opportunities,” he said. “But there is nothing in front of the door.”
Editing by Deepa Babington and Jason Neely