Security Market Segment LS
Wednesday, 20 February 2019 11:23

Kaspersky 2018 global revenue grew despite US campaign

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Eugene Kaspersky: “[The year] 2018 was a crucial year for us." Eugene Kaspersky: “[The year] 2018 was a crucial year for us." Supplied

Despite the US campaign against it and a subsequent big drop in North American business, Russian security firm Kaspersky Lab says it has increased its global revenue for calendar 2018 to US$726 million, a 4% year-on-year increase.

In a statement, the company characterised the year as one of "evolving market conditions and continuous geopolitical pressure", but said it had managed to grow because of "the trust customers and partners place in the company and its leading cyber security solutions and services".

In North America, its sales fell by 25%, but its market presence increased by 8% through sale of digital licences.

The US Government banned the use of Kaspersky's wares in the public sector in 2017 and appeals by the company against it were unsuccessful.

Business areas that drove growth in 2018 were the digital and enterprise segments. Digital sales were up by 4%, while the enterprise segment saw growth of 16%, In non-endpoint products and services there was 55% growth.

During the year, the company began the relocation of its IT infrastructure to Switzerland and opened its first Transparency Centre in Zurich.

Globally, the company’s performance was driven by good results, especially in the Middle East, Turkey and Africa (up 27%), as well as in Russia, Central Asia and the CIS (which includes Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Mongolia, Russian Federation, Tajikistan, Turkmenistan, Uzbekistan), APAC and Europe (all up 6%).

There was a slowdown in Latin America (down 11%), mainly caused by currency devaluation in the region. In Australia and Oceania the company demonstrated a growth of 11% year-on-year focused on net sales bookings.

Kaspersky Lab chief executive Eugene Kaspersky said: “[The year] 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.”

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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