Cyber security group Avast boosted by work-from-home trend

LONDON: Cyber security company Avast said demand for its products surged in the second quarter of 2020 as people shifted to working from home in the pandemic, helping it to meet expectations for revenue and earnings growth.

The London-listed group reported revenue of $892.9 million for 2020, up 7.1% on an organic level, and core earnings of $495.5 million, up 2.6%, with both numbers coming in slightly ahead of analysts’ average forecasts.

Chief Executive Ondrej Vlcek said demand for the company’s security, protection and privacy software spiked in the second quarter of 2020 as people moved from offices to homes.