Kaspersky Lab Announces 4% Revenue Growth For 2018

The leading multinational cybersecurity vendor continues to deliver stable and positive dynamics

Kaspersky Lab continued to deliver stable growth in 2018 and increased its global unaudited IFRS revenue to a total of USD 726 million*, representing a 4% YOY revenue increase. During a year of evolving market conditions and continuous geopolitical pressure, the company achieved success as a result of the trust customers and partners place in the company and its leading cybersecurity solutions and services.

Among the strategic business areas that drove Kaspersky Lab’s growth in 2018 were Digital and Enterprise. The company saw an increase in digital sales (+4%**) and strong growth of 16%** in the enterprise segment, with 55%** growth in non-endpoint products and services in particular. Overall, the company secured healthy results in these business areas by delivering some of the best products and services in the industry, as well as new solutions and technologies that prevent, detect and respond to the most sophisticated cyberthreats.

Commenting on the year’s results, Eugene Kaspersky, CEO of Kaspersky Lab, said: “2018 was a crucial year for us. After all the challenges and unsubstantiated allegations we faced in 2017, we had a responsibility to show that the company and our people deserve the trust of our partners and customers, and in turn, to continue to clearly demonstrate and prove our leadership. Our continued positive financial results are proof of this, demonstrating that users prefer the best products and services on the market and support our principle of protecting against any cyberthreats regardless of their origin.”

Globally, the company’s performance was driven by robust results, especially in META (+27%**), as well as in other regions, such as Russia, Central Asia and CIS*** (+6%**), APAC (+6%**) and Europe (+6%**), while there was a slowdown in Latin America (-11%**) mainly caused by currency devaluation in the region.

The challenging geopolitical situation resulted in an overall slowdown in the North American market, where sales decreased by 25%**. Despite these challenges, Kaspersky lab maintained and developed its presence in the market, with an 8% increase in new licenses sales in digital.

In 2018, Kaspersky Lab advanced the progress of its Global Transparency Initiative by undertaking a number of significant actions. Notably, the company began the relocation of its IT infrastructure to Switzerland and opened the first Transparency Center in Zurich. Kaspersky Lab also implemented an audit by one of the Big Four professional services firms of the company’s engineering practices around the creation and distribution of threat detection rule databases. Today’s ultra-connected global landscape requires increased transparency from organizations, and this unique initiative demonstrates Kaspersky Lab’s clear commitment to assuring the integrity and trustworthiness of its solutions in the service of the customers.

* figures are rounded for easier reading. Growth was 4%, Revenue 725.6 million.

** all segment and regional figures are in net sales bookings, not revenue.

*** countries of the abovementioned region include Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Mongolia, Russian Federation, Tajikistan, Turkmenistan, Uzbekistan.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

MaGIC’s University Startup Challenge 2020 cultivates aspiring leaders

Malaysian Global Innovation & Creativity Centre (MaGIC)’s University Startup Challenge 2020 (USC) was held virtually from June to October this year, with...

GDB secures single-largest RM1.25 billion contract to complete 8 Conlay

Construction services firm GDB Holdings Berhad has secured its single-largest contract of approximately RM1.25 billion to complete the remaining main building works...

Microsoft Malaysia appoints 2 new additions to leadership team

Microsoft Malaysia has appointed two new additions to its leadership team to further strengthen and accelerate the digital growth of customers in...

Funding Societies Malaysia to collaborate with TM Info-Media to offer business financing solutions to MSMEs

Funding Societies Malaysia, a peer-to-peer (P2P) financing platform in the country and Southeast Asia recently collaborated with TM Info-Media Sdn Bhd (TMIM),...

Monash University approves funding for 7 digital health strategic projects

Monash University Malaysia has approved funding for seven digital health strategic projects totaling more than RM2 million. The Monash University Malaysia ‘Network...

Must read

Revitalise the property market for the benefit of all Malaysians

By Wong Siew Lai, General Manager – Malaysia and General Manager - Marketing & Communications, iProperty.com Malaysia Sdn Bhd

Underemployment anxiety needs to be given serious attention

By Sofea Azahar, It is very unfortunate to witness that the unprecedented twin crisis – health and economic –...

How 5G can help us build the urban future

Sunway Group is leading the way to create smart and sustainable cities with great potential As centres of...

IDEAS Opines Business And Economy Will Be Hampered If Parliament Were To Be Suspended

The Institute for Democracy and Economic Affairs (IDEAS) is troubled by several reports that a state of emergency is expected to be...