UK's Darktrace raises annual forecasts for third time this year (updated)
11/04/2024 07:29
(Adds background, details on forecast and CFO comment in
paragraphs 2-6)
April 11 (Reuters) - Darktrace DARK.L raised its
annual revenue and margin forecasts for the third time this year
after the British cybersecurity company's third-quarter revenue
jumped nearly 27%.
The company has benefited from demand for its services due
to an increase in digital attacks, as well as the artificial
intelligence boom. It expects revenue from new customers to grow
as the economic environment begins to improve.
"We believe the markets in which we operate are emerging
from a period of relative economic uncertainty and moving to an
environment where organisations can prioritise proactive cyber
defense," Chief Financial Officer Cathy Graham said on Thursday.
Darktrace's revenue for the year ending June is expected to
grow at least 25.5%, compared with its previous forecast range
of increasing 23.5% to 25.0%.
The company raised its annual revenue and core profit
margins forecast in January, and again in March.
Annual core profit margin is now expected to be at least
23%, from an earlier forecast of at least 21%.
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Shounak
Dasgupta)
((Yadarisa.Shabong@thomsonreuters.com; +91 9742735150))