Darktrace lowers forecast as businesses slash budgets despite rising cyber threats

Published by
City AM

By Jess Jones British cyber security specialist Darktrace dimmed its outlook for 2024 causing shares to dip four per cent on Wednesday morning. Darktrace, which recently cleared its name following allegations of bad books, posted a 31.3 per cent revenue growth in 2023 in its full year results. However, it forecast earnings before interest, tax, depreciation and amortisation may only rise 17 to 19 per cent next year, down from a previous 22 per cent forecast in July. Darktrace also said it could take on more debt. New customer additions have stuttered at a nearly 14 per cent slower rate in 2023…

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