Qt Group shines as lower cost growth leads to Q2 margin beat
08/08/2024 09:11
** Shares in the Finnish software provider Qt Group QTCOM.HE
rise more than 15% after the company's earnings grew well above
analysts' expectations
** Qt's revenue growth returned to the guidance range as
expected, but due to the low cost growth, the earnings beat
expectations, says Inderes analyst Antti Luiro
** Qt posted Q2 EBITA margin of 35%, while the consensus
cited by Inderes saw a margin of 30.5%
** The analyst adds that Qt's sales pipeline is tentatively
stronger than his previous expectations, so at the very least
guidance risks appear to have been reduced, as the group also
stuck to its 2024 guidance
** The share is on track for its best day since February, if
gains hold
(Reporting by Agata Rybska)
((gdansk.newsroom@thomsonreuters.com;))