Kaspersky Lab Announces 4% Revenue Growth in 2018
Global cybersecurity company which has been operating in the market for 21 years, Kaspersky Lab has increased its global unaudited International Financial Reporting Standards (IFRS) revenue to a total of $726 million, representing a 4% Year-Over-Year (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 placed in it 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-end point 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 cyber threats.
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 cyber threats 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.
Also 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 organisations, 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.
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