Trend Micro Reports Earnings Results for Q1 2024
- Increase of 51% in platform connected annual recurring revenue (ARR) contributing 37% of total enterprise ARR, now exceeding US $1.24 Billion
- Increase of 27% in operating income to drive 18% operating margin
- Increase of 12% globally in net sales growth at actual currency
TOKYO, May 8, 2024 /PRNewswire/ -- Trend Micro Incorporated ((4704, TSE: 4704)), a global cybersecurity leader, today announced earnings results for the first quarter of fiscal year 2024, ending March 31, 2024, by reporting 12% year-over-year growth.
Success for the quarter was propelled by consolidation on Trend's AI-driven cybersecurity platform. It drove a record 51% YoY growth in platform-connected ARR, representing 37% of overall enterprise ARR, which now exceeds U.S. $1.24 Billion.
Exceptional demand for this next-gen cybersecurity platform realized a 27% increase YoY in security operations center (SOC)-related ARR, signaling the immense value that resource-constrained security teams gain from enterprise-wide contextualized visibility and streamlined cyber risk management.
The unceasing commitment to increase operational efficiency delivered a 27% increase in operating income this quarter, resulting in an 18% operating margin. This was achieved through a combination of efficiency drivers including AI tools implementation and a meticulous focus on advancing top & bottom-line growth.
Trend Micro CEO and co-founder Eva Chen: "This quarter more than ever before, I watched true magic unfold as our customers acted upon the visibility and risk insights from our AI-powered cybersecurity platform. We are proud to be delivering critical indicators of business risk as well as built-in remediation that customers rely upon to secure their daily operations."
In Q1 2024, organizations increasingly turned to Trend for the combination of its broad platform telemetry and unmatched threat intelligence, resulting in a 15% growth of protected enterprise assets now totaling more than 79 million.
For this quarter, Trend Micro posted consolidated net sales of 65,931 million Yen (or US $443 million, 148.58 JPY = 1USD). The company posted operating income of 12,127 million Yen (or US $81 million) and net income attributable to owners of the parent of 10,754 million Yen (or US $72 million) ...
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