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Sophos operating profit slides 20%

By BFN News | 08:14 AM | Thursday 08 February, 2018

Sophos, a provider of cloud enabled enduser and network security solutions, made an adjusted operating profit of $30.4 million in the nine months ended 31 December 2017, a decrease of 19.6% from the same period a year ago. Billings increased by 21%, or 20% at constant currency (CC), with subscription billings up by 25%. Sophos Central and Enduser Security remained the principal drivers, with Enduser billings up 34%. Network security billings rose by 12%. Group revenue increased by 19% (18% CC), with subscription revenue 23% higher and deferred revenue 33% higher at $687.6 million. Kris Hagerman, chief executive officer, said: "The strong demand for our industry-leading cybersecurity solutions continued in Q3. Customer reaction to XG Firewall v17 has been very positive, and we are delighted to have recently launched a major new release of Intercept X, incorporating for the first time our neural network-based deep learning technology into our leading endpoint product. Consequently, as our business continues to post strong growth the board is confident both in the outlook for the full-year and the longer-term prospects of the group." At 8:14am: (LON:SOPH) Sophos Group Plc share price was -78.5p at 543p Story provided by

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