Kaspsersky's global revenue grows despite US woes

Security specialist sees sales decline 25 per cent in North American market

Cybersecurity vendor Kaspersky reported annual revenue of $726m (£557m) for 2018, despite a downturn in sales in the North American market.

The figure represents four per cent year-on-year global growth for the company, with all regions - apart from the North American market - reporting increased sales.

The Middle East, Turkey and Africa (META) region saw the most growth, with 27 per cent; with Russia, APAC and Europe all reporting a six per cent increase in sales.

Kaspersky saw sales decline in the Americas, with Latin America witnessing an 11 per cent decrease in revenue, which the vendor claims was due to currency devaluation in the region.

Sales in North America fell by 25 per cent, which Kaspersky attributed to the "challenging geopolitical situation".

However, the firm claimed an eight per cent rise in new digital licence sales in the North American market.

The vendor has weathered a storm of scrutiny in the past couple of years, not unlike the current controversy in which Huawei finds itself embroiled.

In 2017, the US government ordered all its departments to remove the vendor's software from their systems, claiming there were ties between "certain Kaspersky officials and Russian intelligence".

Those actions caused the vendor to shutter its Washington office.

Last year, a resolution by the European Parliament was passed calling on an EU ban on Kaspersky's wares, causing the firm to freeze its co-operation with European organisations such as Europol.

CEO Eugene Kaspersky said 2018 was a "crucial" year for the company.

"After all the challenges and unsubstantiated allegations we faced in 2017, we had a responsibility to show that the company and our people deserve the trust of our partners and customers, and in turn, to continue to clearly demonstrate and prove our leadership," he stated.

"Our continued positive financial results are proof of this, demonstrating that users prefer the best products and services on the market and support our principle of protecting against any cyberthreats regardless of their origin."