EMEA Region Drives Radware's Second Quarter Revenues Up
Radware's stock price climbed over 35% in 2018
CTech | 08:53 02.08.2018
On Wednesday, Nasdaq-listed cybersecurity company Radware Ltd. published its second-quarter reports for 2018, meeting or exceeding its guidance on all parameters. The company announced quarterly revenues of $57.3 million, 12% up year-over-year. Revenues from Europe, the Middle East, and Africa accounted for 43% of the company’s quarterly revenues—up 51% year-over-year—while revenues in the Americas were 2% down compared to the second quarter of 2017, accounting for 42%. Revenues for the Asia-Pacific region stayed the same. GAAP profit for the quarter was $1.7 million ($0.04 per diluted share), compared to a net loss of $4.1 million in the second quarter of 2017. The company has surpassed consensus estimates for its EPS over the past four quarters. In the company's earnings call, co-founder and CEO Roy Zisapel said the company experienced faster growth in subscription revenues over the first half of 2018. Subscription and support-related recurring revenues accounted for over 50% of the total revenues of the second quarter, he said.
Tel Aviv-headquartered Radware's stock price climbed 35.4% in 2018.