Norway's Itera Q2 revenue rises 4%, margins improve
Norway's Itera Q2 revenue rises 4%, margins improve
Overview
Norway technology firm's Q2 revenue rose 4% yr/yr, adjusted EBIT margin improved
Company saw progress in AI-enabled growth and higher billable utilisation
Previously announced ordinary dividend of NOK 0.20 per share paid in Q2
Outlook
Itera did not provide specific financial guidance for the current quarter or full year in the press release
Result Drivers
OPERATIONAL IMPROVEMENTS - Higher billable utilisation and reduced overhead costs contributed to improved adjusted EBIT margin, per co
AI-ENABLED GROWTH - Co said progress in its AI-enabled growth agenda drove positive momentum in customer areas linked to business-critical modernisation, AI-enabled delivery and managed services
CLOUD & APPLICATION SERVICES - CAS unit delivered 28% gross profit growth in Q2, driven by recurring managed services, automation and AI
Company press release: ID:nObiwV7pba
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| NOK 210.2 mln |
|
Q2 EBIT |
| NOK 5.7 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "hold"
The average consensus recommendation for the business support services peer group is "buy."
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 10 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)