Trend Micro - TMICY STOCK NEWS

On August 17, 2021, Trend Micro announced its 7th annual global Capture the Flag competition, the Raimund Genes Cup, aimed at enhancing cybersecurity skills. With a significant shortage of over 3 million cybersecurity professionals worldwide, this competition addresses the urgent need for skilled individuals in the industry. The event includes online qualifiers from September 18-19, with the top teams advancing to virtual finals on December 18-19. The winning team will receive 1,000,000 JPY (approximately $9,000 USD) and rewards for participants, promoting talent development in cybersecurity.

Trend Micro reported robust Q2 2021 results with a 12% year-over-year growth in net sales, reaching 46,734 million Yen (US $426 million). Key drivers included a 30% increase in enterprise subscription-based revenue and a 60% rise in SaaS instances. The company now has 360,000 subscription-based customers, reflecting a 19% YoY growth. Positive industry recognition includes being named a leader in multiple security categories, and new innovations, such as a co-built SaaS solution and advancements in IIoT security, highlight Trend Micro's commitment to enhancing cybersecurity.

Trend Micro's recent report indicates a heightened risk of cyber attacks, with 80% of global organizations anticipating a data breach affecting customer data within the next year. The Cyber Risk Index (CRI) reveals a slight increase in the risk score to -0.42. Key findings include that 86% of respondents consider serious cyber-attacks likely, and 24% reported suffering over seven attacks in the past year. The report highlights critical vulnerabilities, particularly in cloud computing, and emphasizes the need for organizations to improve their cybersecurity strategies.

Trend Micro, a global cybersecurity leader, participated in the virtual Black Hat USA 2021 conference from July 31 to August 5. Attendees engaged in the Exploit Elimination Challenge while exploring how threat intelligence enhances platform security.

Trend Micro’s platform offers visibility and extended detection and response (XDR) across various environments, powered by threat intelligence that aids in effective detection and alerts.

For detailed insights, visit their enterprise security platform link.

Trend Micro has partnered with Scamadviser to combat online scams and misinformation. This collaboration allows Trend Micro to educate users on the importance of cybersecurity while supporting Scamadviser’s Global State of Scam Report and the 2021 Global Online Scam Summit in November. Trend Micro also promotes its Check extension, which alerts users to potential online fraud. This partnership reflects Trend Micro's commitment to digital safety and public education against cyber threats.

Trend Micro's latest research highlights that 22% of exploits available in underground forums are over three years old, indicating a persistent risk for organizations. The report underscores the importance of timely patching, revealing that vulnerabilities can be exploited long after they are patched. Notably, the average time to patch a vulnerability is now 51 days. Additionally, the study shows a decline in the zero-day exploit market, influenced by bug bounty programs. As cybercriminals increasingly target legacy vulnerabilities, the necessity for proactive measures such as virtual patching becomes critical for organizations.

Trend Micro's recent research indicates that 50% of US organizations are ineffective against phishing and ransomware threats. The study, conducted by Osterman Research, surveyed 130 cybersecurity professionals from mid-sized and large firms. Key findings include that 72% find it hard to prevent attacks via home networks and only 37% effectively follow best practices. Moreover, 84% of respondents faced at least one security incident, highlighting the urgent need for multi-layered defense strategies. The report outlines essential practices like improved authentication and proactive incident response planning.

Trend Micro has been recognized as a "Champion" in the Canalys Global Cybersecurity Leadership Matrix for the second consecutive year, achieving a 79% vendor benchmark rating. The company noted significant improvements in its channel program post-refresh, with enhanced support for cloud migration and hybrid security. Key metrics include 28% year-over-year growth in managed service providers and a 9% increase in new logo customers. Additionally, its partner portal experienced a 143% growth in unique logins in 2020.

Trend Micro has issued a report warning about increasing ransomware threats targeting Industrial Control Systems (ICS), which are essential for the operation of utility plants and factories. The report highlights that ransomware variants like Ryuk and Nefilim accounted for over half of ICS infections in 2020. With ransomware attacks now regarded as a severe threat, the company stresses the need for improved cooperation between IT and OT security teams. Key recommendations include prompt patching and enhanced security measures.