Shares of cybersecurity firm Avast (LON: AVST) are rising on Tuesday after the company’s released its Q1 trading update, raising its full-year 2021 guidance.
Avast stated that due to the completed disposal of the Family Safety mobile business, the group now expects to deliver at the upper end of the six to eight per cent organic revenue growth guidance.
In Q1 2021, Avast’s revenue grew 10.5% to $237.1 million from $214.6 million. The company said its consumer-direct business continued to deliver good growth, while its SMB business also sustained positive momentum.
Adjusted EBITDA for the first quarter rose 10.3% to $133.7 million. Following the Q1 results, Avast’s board has recommended a final 2020 dividend of 11.2 US cents per share. The scheduled ex-dividend date is 13 May 2021, and the expected payment date is 18 June 2021.
“Avast has made a good start to the year with continued demand for the company’s security, privacy and performance solutions. The business is trading in line with expectations as we successfully execute on our stated goals to drive customer engagement and monetisation. We look forward to the remainder of the year with confidence,” said Ondrej Vlcek, CEO of Avast.
The company’s shares are currently trading 3.22% above Monday’s close at 486.8p.
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