pre_text: Revenue and deferred revenue The Group adopted IFRS 15 Revenue from Contracts with Customers in the current year and has therefore restated the results for the prior-year on a consistent basis, see note 2 of the Financial Statements for further details. The Group’s revenue increased by $71.6 million, or 11.2 per cent, to $710.6 million in the year-ended 31 March 2019. Subscription revenue was notably strong in the period, with reported growth of 15.9 per cent, or 16.7 per cent on a constant currency basis, because of strong prior-period billings and incremental growth of the MSP channel in the current period. 1 Restated for the adoption of IFRS 15 as explained in note 2 of the Financial Statements Revenue in the period of $710.6 million comprised $394.1 million from the recognition of prior-period deferred revenues and $316.5 million from in-period billings. The majority of the Group’s billings, which are recognised over the life of the contract, relate to subscription products (FY19: 84.8 per cent; FY18: 83.8 per cent), with the benefit from increased billings being spread over a number of years on the subsequent recognition of deferred revenue. The deferred revenue balance at the end of the period of $742.1 million increased $13.5 million year-on-year, an increase of 1.9 per cent. This was mainly due to a net deferral of billings amounting to $49.7 million partially offset by a net currency revaluation of $36.2 million, a consequence of the weakening of the euro and sterling against the US dollar during the year. Deferred revenue due within one year at the balance sheet date of $428.6M increased by 5.1 per cent at actual rates or by 10.7 per cent in constant currency. Revenue in the Americas increased by $29.7 million or 13.3 per cent to $253.3 million in the year-ended 31 March 2019, supported by the recognition of prior-period Enduser billings from the Sophos Central platform and the growth of the MSP channel in the current period. EMEA revenue increased by $39.1 million or 12.0 per cent to $363.6 million in the year-ended 31 March 2019, with growth in Enduser in particular, but also aided by Network sales. APJ revenue increased by $2.8 million, or 3.1 per cent to $93.7 million in the year-ended 31 March 2019, with good growth in Enduser products partially offset by a decline in Network sales following the legacy product transition.
table: FY19 FY18¹ Growth % Growth %
table: $m (Reported) $m (Reported) (Reported) (CC)
table: Revenue by Region:
table: – Americas 253.3 223.6 13.3 13.4
table: – EMEA 363.6 324.5 12.0 12.7
table: – APJ 93.7 90.9 3.1 6.2
table: 710.6 639.0 11.2 12.0
table: Revenue by Product:
table: – Network 328.5 316.5 3.8 4.7
table: – Enduser 348.4 291.8 19.4 20.2
table: – Other 33.7 30.7 9.8 10.0
table: 710.6 639.0 11.2 12.0
table: Revenue by Type:
table: – Subscription 593.9 512.4 15.9 16.7
table: – Hardware 106.8 115.1 (7.2) (6.3)
table: – Other 9.9 11.5 (13.9) (12.8)
table: 710.6 639.0 11.2 12.0
question: Analyse this data from a financial earnings document. What was the average revenue earned across 2018 and 2019?