Sweden's Net Insight preliminary Q2 sales fall sharply on fewer large deals
Sweden's Net Insight preliminary Q2 sales fall sharply on fewer large deals
Overview
Sweden media transport tech firm's preliminary Q2 net sales fell sharply yr/yr
Preliminary Q2 EBIT loss widened from prior year
Company cites lack of large Media deals and strong prior-year comparison for revenue drop
Outlook
Net Insight did not provide specific guidance for future quarters or the full year
Result Drivers
LACK OF LARGE MEDIA DEALS - Co said Q2 revenue fell as larger Media deals did not materialize, with prior year supported by several large orders
TIME SYNCHRONIZATION GROWTH - Revenue from Time Synchronization business area rose to SEK 12 mln from SEK 4 mln
COST SAVINGS - Costs were lower yr/yr due to cost-saving measures implemented during the previous year
Company press release: ID:nMFN1ClwCq
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales | Miss | SEK 91 mln | SEK 148 mln (1 Analyst) |
Q2 EBIT |
| -SEK 26 mln |
|
Analyst Coverage
Wall Street's median 12-month price target for Net Insight AB is SEK3.75, about 3.1% below its July 6 closing price of SEK3.87
The stock recently traded at 28 times the next 12-month earnings vs. a P/E of 15 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.)