- A 21% Y/Y increase in subscription revenue to $81.6M (now 79% of total revenue) helped NYSE:AVG beat Q1 estimates in spite of its ongoing search toolbar revenue decline. Shares have rallied to new 52-week highs.
- AVG's monthly active user count topped 200M (it was at 197M at the end of Q4), and its mobile user base grew 4% Q/Q and 29% Y/Y to 104M. On the CC (transcript), CEO Gary Kovacs stated mobile revenue (boosted by the Location Labs deal) totaled $13.9M (14% of total revenue), and declared AVG is on its way to hitting a 2015 mobile revenue target range of $60M-$70M. The user base for AVG's Zen cross-device security platform is up to 9M.
- Forex had a $2.1M impact on Q1 revenue. GAAP operating expenses rose 25% Y/Y to $69.2M. For now, the security software vendor is maintaining full-year guidance for revenue of $410M-$430M and EPS of $1.80-$1.90 (consensus is at $421.2M and $1.87).
- Q1 results, PR