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Cybersecurity company Avast reaffirmed its outlook after reporting a rise in earnings and revenue in the third quarter.
For the period from 1 July 2020 to 30 September 2020, adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, increased 3.3% to $126.0 million year-on-year and adjusted revenue rose 2.6% to $226.0m
The company said adjusted revenue percentage growth overtook adjusted billings percentage growth in the third quarter of the year, as user and customer trends normalised with the easing of lockdowns.
Looking ahead, the company reaffirmed guidance and said it expected revenue growth to continue to outpace billings growth in the second half of the year.
'The group reaffirms 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,' it added.