Fortnox rises after Q3 results, strong customer intake

Fortnox AB

24/10/2024 09:19

** Shares in Fortnox  FNOX.ST  rise more than 5% after the
Swedish accounting solutions firm's in-line Q3 print
    ** Co reports strong customer intake and underlying margins
    ** "The net customer intake was 13,000 (10,000), beating our
expectations of 10,000 – a strong number, especially considering
the market environment," Redeye analyst Fredrik Nilsson says in
a note 
    ** Adds that the company's organic sales increased by 24% to
523 mln crowns ($49.45 million), in line with forecasts, while
core transactions performed better than anticipated
    ** If gains hold, shares are on track for a best day in
seven months
 
 ($1 = 10.5772 Swedish crowns)

 (Reporting by Jesus Calero)
 ((Jesus.calero@thomsonreuters.com))