PFPT - Proofpoint Targets Insider Threats Through Acquisition
According to IDC, the global cybersecurity market grew 9% to $103.1 billion in 2019 and is expected to grow at 9% CAGR to reach $133.8 billion by 2022. Recently, San Francisco-based Proofpoint (PFPT) announced its fourth-quarter results that surpassed market expectations.
Proofpoint's Financials
Proofpoint's revenues grew 23% over the year to $243.3 million, ahead of the market's forecast of $239.1 million. Billings grew 29% to $347.2 million, ahead of the Street's expected $341.7 million. EPS of $0.52 was also significantly better than the market's forecast earnings of $0.48 per share.
By segment, subscription revenues grew