Reuters: Global Markets: AVG Tech shares rise on strong results, outlook

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AVG Tech shares rise on strong results, outlook May 11th 2012, 14:35 Fri May 11, 2012 10:35am EDT (Reuters) - Shares of AVG Technologies NV (AVG.N) rose as much as 13 percent after the company handily topped first-quarter expectations and forecast a strong full year. First-quarter revenue rose 37 percent to $83 million, helped by higher sales at its platform-derived segment. Analysts expected revenue of $76.7 million, according to Thomson Reuters I/B/E/S. The company, which went public in February, also forecast second-quarter and full-year ahead of expectations. AVG, which is known for its free suite of anti-virus products, monetizes its large user base through targeted advertisements and by driving traffic to online search companies such as Google Inc (GOOG.O) and Yahoo Inc (YHOO.O). AVG shares, which have fallen 20 percent until Thursday's close, were trading up 9 percent at $13.88 on Friday on the New York Stock Exchange. They touched a high of $14.47 earlier.

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