Germany's TeamViewer trims revenue forecast on FX headwinds

TeamViewer SE

06/11/2024 06:00

Nov 6 (Reuters) - German software developer TeamViewer
 TMV.DE  lowered its full-year revenue outlook on Wednesday,
citing that foreign exchange headwinds from 2023 billings could
likely have a negative impact of up to 11 million euros ($11.84
million).
    The company, which specialises in cloud-based technologies,
now expects its revenue to hit 662 million euros-668 million
euros, from a previous target of 660 million to 685 million
euros. 
    The company, however, raised its outlook for adjusted core
profit (EBITDA) margin to about 44%, up from the target of at
least 43%, due to better-than-expected profitability in the
third quarter. 
    The company said its profitability in the reported period
was boosted by its reduced partnership with Manchester United
(MANU.N), a trend it expects to continue benefiting its
fourth-quarter margins. 
    
    ($1 = 0.9289 euros)
    
    
    

 (Reporting by Bernadette Hogg and Amir Orusov; Editing by
Sherry Jacob-Phillips)
 ((bernadette.hogg@thomsonreuters.com))