Trend Micro Reports Strong Q3 2024 Earnings, Driven by AI-Powered Solutions and Platform Adoption

Trend Micro Reports Strong Q3 2024 Financial Performance

Trend Micro Incorporated, a global cybersecurity leader, has announced its earnings results for the third quarter of fiscal year 2024, ending September 30, 2024. The company reported a 6% year-over-year growth in net sales, reaching 68,124 million Yen (approximately US $456 million) 1

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Key financial highlights include:

• Operating income of 14,801 million Yen (US $99 million)
• Net income attributable to owners of 8,523 million Yen (US $57 million)
• 42% increase in operating income, driving a 24% operating margin
• 6% growth in total enterprise annual recurring revenue (ARR) to US $1.8 Billion

AI-Powered Solutions Drive Growth

The company's growth was primarily driven by increased demand for AI-powered solutions and industry tool consolidation. Trend Micro's platform strategy has been extended to enhance AI security and protect sensitive data in high-performance computing environments 1

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Eva Chen, CEO and co-founder of Trend Micro, stated, "Thanks to AI innovations, proactive cybersecurity is possible through risk management, opening us up for growth" 2

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Platform Adoption and Customer Growth

Trend Micro reported significant progress in platform adoption and customer acquisition:

• Over 780 new customers year-to-date, with total customer count exceeding 10,000
• 21% increase in next-gen Security Operations Center (SOC) ARR
• 37% platform attach rate achieved through focused adoption and module expansion

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Strategic Initiatives and Industry Recognition

The company highlighted several key business updates for Q3 2024:

1. Joined the Coalition for Secure AI (COSAI) alongside major tech companies
2. Extended AI security capabilities for small businesses
3. Released new research and tools to measure and mitigate digital attack surface risks
4. Retained #1 ranking in IDC's Worldwide Cloud-Native Application Protection Platform Market Shares report
5. Recognized as a Leader in Gartner's Magic Quadrant for Endpoint Protection Platforms and Forrester's Wave for Attack Surface Management Solutions

Future Outlook

Trend Micro maintains its previously announced forecast for the full fiscal year ending December 31, 2024. The company expects:

• Consolidated net sales of 271,000 million Yen (US $1,843 million)
• Operating income of 52,900 million Yen (US $359 million)
• Net income attributable to owners of 34,600 million Yen (US $235 million)

Kevin Simzer, COO of Trend Micro, emphasized the company's focus on managing operating expenses while driving sustainable results from platform advancements 2

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As Trend Micro continues to innovate in the cybersecurity space, its emphasis on AI-powered solutions and proactive security measures positions the company for continued growth in an evolving digital landscape.