Qt Group shares shine after Q2 results
BUZZ-Qt Group shares shine after Q2 results ** Qt Group shares rise 25% after the Finnish software provider reported Q2 results above estimates
** Its earnings before interest, taxes, and amortization (EBITA) of €9.3 million ($10.74 million) came in 39% ahead of Inderes' expectations
** "EBITA was a positive surprise despite the significant restructuring costs burdening the quarter," Inderes says
** Impact on earnings from reorganization and cost review reached €4.3 million in Q2, the group said in its report
** Qt maintains its full-year guidance, with Inderes saying the lower end of it seems to be "very accessible" after a strong H1 performance
** The broker also notes the net sales of €61 million, exceeding its expectations by about 8%
** Inderes says the full effect of the savings programme will support margin increase in H2 and the strong Q2 performance will create upward pressure on its full-year forecasts
** The shares were up 25% at GMT 0728, on track for their best day ever, if the gains hold
($1 = 0.8663 euros)
(Reporting by Vera Dvorakova)