Sophos reports better-than-expected first quarter

(ShareCast News) - Network security solutions company Sophos updated the market on its first quarter trading on Wednesday, and said it was looking at billings above board expectations.The FTSE 250 firm said like-for-like billings growth is expected to be in the range of 20% to 23% year-over-year.In the short statement, Sophos said the billings were underpinned by a material contract with an existing customer."Sophos re-confirms FY17 outlook," the board concluded.