Suse shares up as FY EBITDA beats expectations
16/03/2023 09:14
** Shares in Suse SUSEG.DE rise 2% after its adjusted
EBITDA grew 28% year on year in 2022 and reached $67.1 million,
beating the company-provided consensus of 13% increase
** The result was partly driven by austerity measures, which
include reducing headcount by 92 people, the German software
provider said in a statement
** "With the changes we made to our sales force early in the
quarter now behind us, we are fully focused on building on this
performance through the rest of the year," Suse's CEO Melissa Di
Donato added
** "Overall, a mixed picture with top-line metric weakness
likely the focus for investors given the more challenging
development seen in prior periods", JP Morgan analyst wrote in a
note
** The Luxembourg-based company provides open-source
software solutions for Linux operating system, as well as its
own products
(Reporting by Andrey Sychev)
((Andrey.Sychev2@thomsonreuters.com))