Qt Group drops to the bottom on Helsinki blue after Q2 results
03/08/2023 13:48
** Shares of Qt Group QTCOM.HE dive 16.9% after the
Finnish software provider posted its Q2 results below analysts
expectations
** "The negative surprise in Q2 report was mainly the fact
that revenue was below analysts' expectations, while
profitability and general sentiment on growth prospects did not
deviate much from expectations", Inderes analyst Antti Luiro
says
** Company's quarterly net sales came at EUR 43.5 million,
falling short of the EUR 47.1 million estimated by Refinitiv
analysts
** "As a result of the growth disappointment, the valuation
multiples are under pressure, which is reflected in the price
movement", says OP Financial Group analyst Kimmo Stenvall
** He adds that, in terms of growth, the company is "just
above the lower end of the guidance range" and points that,
while profitability is progressing well, it plays a secondary
role in the investment story
** The stock drops to the bottom of the Helsinki blue-chip
index .OMXH25 , on track for its worst day since August 2022
(Repoting By Jesus Calero and Elviira Luoma)
((Jesus.calero@thomsonreuters.com))