Cloud firm Sinch tracks best day in 1 yr after Q3 results

Sinch AB (publ)

07/11/2023 08:52

** Shares in Sinch  SINCH.ST  jump more than 17% after the
Swedish cloud computing services provider posted Q3 results,
with adjusted EBITDA above expectations
    ** The company's adjusted EBITDA came in at SEK 943 million 
($86.39 million), beating the 878.2 million seen in an LSEG-poll
    ** J.P. Morgan says the EBITDA number implies a 13.0% margin
and that it is 2.5% ahead of consensus, while it says revenues
were 2.6% "light" of company consensus
    ** The broker also notes that free cash flow is 50% ahead of
its estimates, and says available cash and committed credit
facilities "more than exceed loans maturing in 2024"
    ** Shares track their best day in a year 
    
    
    


($1 = 10.9159 Swedish crowns)

 (Reporting by Greta Rosen Fondahn)
 ((Greta.RosenFondahn@thomsonreuters.com))