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This statistic highlights NortonLifeLock’s Revenue by Segment, split across Consumer security, and Identity & information protection, reported on a quarterly basis from Q1 2016 onwards.
NortonLifeLock has the largest Consumer Cyber Safety platform globally, empowering nearly 80 million users in more than 150 countries. They maintain a global, multi-channel direct acquisition and brand marketing program. This program is designed to grow their customer base by increasing brand awareness, making them understand their products and services and maximizing their global reach to prospective customers.
NortonLifeLock’s Revenue by Segment increases both, on a year-on-year and quarter-on-quarter basis. Earlier, in the same quarter of the previous year, i.e., Q3 2021, the company generated a revenue of $639 million, while in the same quarter of the next year, i.e., Q3 2022, it rises to $702 million, showing an increase of 10% on a year-on-year basis. When compared on a quarter-on-quarter basis, the total revenue witnessed a slight increment of 1.45%, from $692 million earned in Q2 2022 to $702 million earned in Q3 2022.
The company’s Consumer security segment has a revenue contribution of 60%, amounting to $418 million, whereas, the Identity and information protection segment has a contribution of 40%, to the total revenue of the company in Q3 2022. The Consumer Security segment is the largest contributor of revenue for the company.
NortonLifeLock’s total revenue is bifurcated into the following segments:
|Revenue by Segment||Q3 2021||Q2 2022||Q3 2022||Contribution in Q3 2022|
|Identity and information protection||$261.00||$277.00||$284.00||40%|
(All figures are in millions, except percentages)
The revenue from the company’s Consumer security segment has been rising over the several quarters. Earlier, in Q3 2021, the company generated a total of $378 million in revenue, while in Q2 2022 it rises to $415 million. This shows there is a 9% rise in revenue from this segment of the company. While in Q3 2022 it rises to $418 million, making a rise of 0.7% on a quarter-on-quarter basis, from $415 million in Q2 2022. On a year-on-year basis, there is an increment of 10.58%, from $378 million in Q3 2021 to $418 million in Q3 2022.
Identity and information protection
The revenue from the company’s Identity and information protection segment has been rising over the several quarters. Earlier, in Q3 2021, the company generated a total of $261 million, while in Q2 2022, it rises to $277 million. This shows there is 7% rise in revenue from this segment of the company. While in Q3 2022, it rises to $284 million, which shows the total growth of 3% on a quarter-on-quarter basis, from $277 in Q2 2022. When compared on a year-on-year basis, the revenue from this segment increases from $261 million in Q3 2021 to $284 million in Q3 2022, indicating towards an increment of 8.8%.
Impact of COVID-19
During the COVID-19 pandemic, to protect the well-being of the company’s employees, partners, and third parties, the company issued a work from home notice for most employees, with substantial modifications to employee’s travel policies, and cancellation of conferences and other marketing events to the virtual platform. Norton Life Lock had a negligible impact on their customer success efforts, sales and marketing efforts, and their employee’s productivity to date.
NortonLifeLock is one of the leading consumer cyber safety platform in the world, with nearly 80 million users in more than 150 countries. In today’s world of immensely increasing digitalization, the way of living life has changed. With a huge shift in working and learning from home and the growing opportunity and the utility to transact and play online, people’s digital lives have become a norm. With increasing digital interactions comes increased risk for consumers, as several cybercriminals look to take advantage of this accelerating trend.
The company helps in detecting, preventing, and restoring potential damages caused by many cyber-criminals. The company also makes its process easy for the consumer to find, buy and use its products and services. For customer benefits, Norton uses multi-channel direct acquisition and brand marketing programs. Most of the company’s subscriptions are sold either on monthly or annual terms. As of 2nd April 2021, they have approximately 80 million total users through a direct or indirect channel of partner relationships with retailers, telecom service providers, employee benefit providers, and hardware original equipment manufacturers. The common stock of NortonLifeLock is listed on the NASDAQ under the ticker symbol “NLOK”.
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