Artificial Intelligence
Trend Micro Reports Earnings Results for Q3 2023 Marking 100 Consecutive Quarters of Profitable Growth
Trend Micro Incorporated (TYO: 4704; TSE: 4704), a global cybersecurity leader, today announced earnings results for the third quarter of fiscal year 2023, ending September 30, 2023 by reporting 13% year-over-year (YoY) growth.
Trend empowers over 500,000 enterprise organizations and over 17 million consumer customers across more than 175 countries to thrive in a world with less cyber risk.
For this quarter, global customer demand drove platform expansion by 20% YoY in enterprise annual recurring revenue (ARR) totaling more than US$745 million. The company grew its protection of 74 million+ enterprise assets at a growth rate of 22% YoY through the combination of its platform telemetry, powerful generative AI engine and unmatched threat intelligence.
“Amidst the dynamic cybersecurity landscape, we proudly marked our 100th consecutive quarter of profitability, a milestone rarely achieved in the public market and one we attribute to our customers’ embrace of innovations,” said Trend Micro CEO and co-founder Eva Chen. “We are relentlessly focused on delivering customers a platform to increase risk visibility and decrease complexity of their security stack, while we are simultaneously advancing our corporate balance of growth and profitability.”
That operational rigor delivered Q3 free cash flow from operations that grew 30% YoY, the application of which will propel business modernization and enable additional shareholder returns. Trend also disclosed plans for a powerful combination of special dividends and an increase in share buyback, which will be further disclosed at its upcoming investor day.
Trend will host its investor day at 10:00 a.m. (GMT+9) on Thursday, December 1, 2023, as a hybrid event format for invited investors.
For this quarter, Trend Micro posted consolidated net sales of US$443 million (144.80 JPY =1USD). The company posted operating income of US$ 78 million and net income attributable to owners of the parent of US$ 6 million for the quarter.
The company will not revise expected consolidated results for the full fiscal year ending December 31, 2023 (released on February 16, 2023). Based on information currently available to the company as of November 9, 2023, consolidated net sales for the year ending December 31, 2023, is expected to be US$1,840 million (based on an exchange rate of 135 JPY = 1 USD.) Operating income and net income are expected to be US$257 million and US$125 million, respectively.
Key business updates in Q3 2023
Innovative: Trend nurtures a culture of innovation to drive advancements across its cybersecurity platform.
- Debuted significantly enhanced platform with the addition of Trend Vision One™ – Companion, a new generative AI assistant, to streamline processes and empower analysts.
- Led the XDR vendors list in the Summer 2023 G2 Grid through customer superior rankings of the Trend Vision One™ platform.
- Launched new managed security service providers (MSSP) offering to further enable the global ecosystem partners to grow SOC-as-a-service offerings.
Trusted: Trend is a trusted partner to the customers and communities that it serves.
- Appointed to U.S. Hacking Policy Council, a new industry alliance dedicated to advocating for security research and testing among policymakers.
- Achieved 100% protection rate in the rigorous MITRE Engenuity ATT&CK® Evaluations, detecting and blocking 100% of attack events in the 13 attack phases.
- Revealed new research that ransomware victims have surged 47%, with one in six attacks on U.S. government offices trace back to the LockBit ransomware group.
Global: Trend has the most geographically diverse customer base in the industry, with millions of sensors powering the Trend Vision One platform for superior attack surface risk management.
- Recognized by Forrester as one of 6 security vendors that generate $250m or more in annual revenue from their cloud workload security portfolio.
- Launched a global generative AI ideathon competition, sponsored by Microsoft, to unleash new business efficiencies and drive its culture of innovation.
- Partnered with INTERPOL to dismantle a prolific phishing-as-a-service (PaaS) operation as a part of its ongoing collaboration with worldwide law enforcement agencies.
Trend Micro was awarded the following patents in Q3 2023:
|
Patent No. |
Issue Date |
Title
|
|
11706253 |
July 18, 2023 |
Semi-automatic rule generator |
|
11706222 |
July 18, 2023 |
Systems and methods for facilitating malicious site |
|
11714891 |
August 1, 2023 |
Frictionless authentication for logging on a |
|
11736498 |
August 22, 2023 |
Stateful detection of cyberattacks |
|
11757816 |
September 12, |
Systems and methods for detecting scam |
|
1 Named in The Forrester report, The Cloud Workload Security Landscape, Q3 2023 |
||
Notice Regarding Forward-Looking Statements
Certain statements included in this press release that are not historical facts are forward-looking statements. Forward-looking statements are sometimes accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These statements are based on our current expectations and beliefs and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we do not know whether our expectations will prove correct. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, even if subsequently made available by us on our website or otherwise. We do not undertake any obligation to update, amend or clarify these forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Artificial Intelligence
Keyrus expands its data nearshore services connecting Portugal’s talent with the Dach Region, Netherlands and Nordic Countries
LISBON, Portugal, May 7, 2024 /PRNewswire/ — Keyrus, a global leader in data analytics and digital transformation, is proud to announce the consolidation of developing and delivering data solutions remotely from Portugal. After successfully demonstrating its expertise for over 3 years in the UK, France, and Belgium markets, Keyrus Portugal Nearshore is expanding its offering to the rest of Europe. This significant move establishes a seamless connection between the rich technological talent of Portugal and the robust markets of the Dach Region, Netherlands or Nordic Countries. This strategic initiative not only signifies Keyrus’ unwavering dedication to fostering digital innovation and transformation across the globe but also marks a milestone in its ongoing mission to bridge technological frontiers.
Keyrus Portugal’s focus on data nearshore services highlights the country’s competitive advantages, including its highly skilled technological talent, cutting-edge infrastructure, and geographical and cultural proximity to major European markets. These factors, combined with Keyrus’ deep experience and knowledge in data analytics, cloud solutions, ML, Gen AI, and digital solutions, ensure an unprecedented offering in terms of quality, efficiency, and value.
Javier Riera, Executive Director of Southern Europe at Keyrus, expresses excitement, “Consolidating our data nearshore services heralds a new era of collaboration, uniting Portugal’s top tech talent with leading European businesses. Our goal: deliver personalized resources, aligned with client needs, for efficient implementations and exceptional results.”
About Keyrus
Keyrus is a global consulting and technology company that focuses on making data matter, truly matter, from a human perspective. Since it is not only the data itself that matters, but the opportunities we can develop by leveraging it. A mere means to an end, data, whether big, small, human, complex, historical, prospective, only ever makes sense when it is used to develop experiences, shape understanding, make the best decisions. Our value proposition is founded upon five major groups of services, each comprising multiple offerings:
Automation and artificial intelligence. Human-centric digital experience. Data & analytics enablement. Cloud and security. Business transformation & innovation. At Keyrus, we help our clients to successfully transform themselves to build a better future.
Keyrus employs over 3500 employees and is based in 27+ countries across 4 continents.
Discover more about how Keyrus’ data nearshore services can revolutionize your business & data strategy by visiting nearshore.keyrus.com
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Artificial Intelligence
Promoting a Greener Future: Beny Becomes Official Sponsor of the Primeira Liga
MADRID, May 7, 2024 /PRNewswire/ — Beny recently announced that it has become the official sponsor of the Primeira Liga. This sponsorship will cover key events in the second quarter of the match. The announcement has drawn significant attention from both the business and sports communities, as it represents not only a commercial collaboration but also symbolizes the convergence of sports and environmental ideals. As the sponsor, Beny’s brand logo is prominently displayed on stadium fencing at the game venues, further enhancing brand visibility.
As a global leader in providing innovative new energy solutions, Beny’s product range includes photovoltaic DC power transmission and distribution, smart EV charging, and micro energy system, among other fields. With its mission to “Empowering the safe advancement of the new energy sector through AI,” Beny strives to contribute to the global energy transition through technological innovation.
Following Beny’s announcement of becoming the official sponsor, industry experts view this partnership not just as a business venture but also as a powerful statement that sports and environmental initiatives can work hand-in-hand to promote sustainable development. Beny’s General Manager, Jundan Wang, commented on the collaboration, stating, “This is a great opportunity to use football as a platform to spread the idea of green energy to a broader audience. We look forward to seeing players deliver stellar performances in the upcoming games, while Beny continues to innovate in the sustainable energy field, driving industry growth.”
Football is one of the most popular sports in the world, capable of uniting people from diverse backgrounds. This aligns with our aspiration: to offer a more sustainable future to global consumers. The Primeira Liga is renowned for its intense competition, technical excellence, and deep impact on fans. Through its sponsorship of game, Beny hopes to raise awareness and acceptance of green energy among fans, encouraging more people to engage in sustainable practices and contribute to a greener future.
The partnership with the Primeira Liga offers new opportunities and possibilities for both parties. This collaboration represents a win-win situation, not only advancing football as a sport but also supporting global efforts towards a sustainable energy transition. We look forward to witnessing the competitive spirit in the upcoming games and seeing both Beny and the Primeira Liga leave a lasting impression in their respective fields.
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Artificial Intelligence
Persistent Transforms Enterprise Data Management with iAURA, a Portfolio of AI-Powered Data Solutions
SANTA CLARA, Calif. and PUNE, India, May 7, 2024 /PRNewswire/ — Persistent Systems (BSE: PERSISTENT) (NSE: PERSISTENT), a global Digital Engineering and Enterprise Modernization leader, announced the launch of Persistent iAURA, a suite of AI-powered data solutions engineered to catalyze business growth. iAURA empowers businesses with seamless deployment and precision in addressing data challenges for AI implementations. The solutions harness AI and ML to uncover hidden patterns, enabling data-driven decision-making, enhanced business intelligence, and automated data quality assurance and reconciliation.
In today’s data-driven world, businesses face challenges in handling large amounts of data while ensuring quality, governance, and cost control, often requiring specialized technical expertise. These challenges hinder strategic decision-making and impede growth, especially with the rise of AI, which requires access and integration of large amounts of high-quality data. As businesses aim to utilize AI, they face obstacles in utilizing data, including extracting actionable insights, ensuring quality, and automating migration processes. iAURA offers tailored solutions, expediting the transition to AI-driven enterprises, providing a comprehensive approach from data ingestion to insights using analytics and accelerators.
The AI-first solutions for complete enterprise data management in the iAURA portfolio include:
iAURA Insights empowers teams to talk to their data in natural language and get relevant business insights.iAURA Migrate automates and accelerates migration and modernization of data technologies using GenAI-enabled tools. It is a comprehensive suite of solutions that spans across Business Intelligence, ETL, Data Warehouse, among others.iAURA Data Ops ensures AI-driven data quality, data reconciliation, and data freshness.iAURA Platforms aid clients in managing tool choice, governance, security, and cost through data and AI platform services.In initial engagements, the benefits of iAURA have been substantial. With iAURA Insights, Persistent developed virtual agents driven by GenAI to seamlessly guide users on a step-by-step journey from business requirements to proposals. This enabled a leading pharmaceutical company to accelerate proposal response time by 90%.
iAURA is compatible with all major hyperscaler platforms and all leading LLM providers, giving clients the flexibility to deploy on their preferred choice of technologies. By combining advanced software solutions, robust platform capability, and deep implementation expertise, iAURA provides clients with unparalleled agility in deployment models. It integrates Persistent’s IP as accelerators and APIs, ensuring seamless integration and optimal performance.
Bidish Sarkar, Senior Vice President – Data and Analytics, Persistent:”We’re excited to introduce iAURA, a cutting-edge suite of AI-powered data solutions engineered to propel business growth. iAURA optimizes enterprise data management, accelerating the transformation from data ingestion to actionable insights. This enhancement empowers enterprises to expedite their decision-making, time to market, and accelerates the journey to scale GenAI use cases.”
Nandini Tare, Associate Practice Lead, Digital Engineering, HFS Research: “Data plays a critical role in GenAI solutions, accessing enterprise data and driving insights from it is one of the challenges that organizations face in today’s fast paced technology landscape. Persistent’s iAURA, unlocks the true potential of data. It drives growth by empowering organizations to make informed data driven decisions. Its seamless integration and compatibility with all hyperscalers bring flexibility of infrastructure and the ability to contextualize and visualize data accelerates insights for better decision making. The iAURA suite of solutions truly brings a strong proposition that transforms enterprise data into valuable outcomes.”
About Persistent
With over 23,800 employees located in 21 countries, Persistent Systems (BSE & NSE: PERSISTENT) is a global services and solutions company delivering Digital Engineering and Enterprise Modernization. As a participant of the United Nations Global Compact, Persistent is committed to aligning strategies and operations with universal principles on human rights, labor, environment, and anti-corruption, as well as take actions that advance societal goals. With 268% growth since 2020, Persistent is the fastest-growing Indian IT Services brand according to Brand Finance.
www.persistent.com
Forward-looking and Cautionary Statements
For risks and uncertainties relating to forward-looking statements, please visit persistent.com/flcs
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