SUSE drops after EBITDA miss, analysts call for clarity on future
06/07/2023 08:47
** Shares in SUSE SUSEG.DE fall 10% after the Linux
software provider reported Q2 core profit slightly below
expectations and reiterated its FY outlook
** It posts Q2 adj. EBITDA of $52.2 million vs consensus of
$53.3 million in Vara poll; confirms the preliminary adj.
revenue of $162.2 million, announced in May
** "Investors will no doubt want greater clarity on the
future strategy given recent management changes," Jefferies says
** On May 1, SUSE hired Dirk-Peter van Leeuwen as new CEO;
it has said the replacement for former CFO Andy Myers will be
announced in due course
** "Key focus on the call will be ascertaining confidence
around 2023 guidance, confidence on mid-term reiteration, given
new CFO hire process ongoing, and understanding salesforce &
product developments," J.P.Morgan says
** The stock is trading at its lowest level since its
listing in 2021, after losing about 30% of its value since the
start of the year
** SUSE is at the bottom of the German small-cap index
.SDAXI
(Reporting by Amir Orusov)
((Amir.orusov@thomsonreuters.com))