Teamviewer jumps after Q2 beat

TeamViewer SE

31/07/2024 08:07

** Shares in TeamViewer  TMV.DE  jump 8.2% after the German
software developer reported Q2 revenue and earnings above
expectations
    ** Quarterly revenue rose 6% from a year earlier to 164.1
million euros  ($177.54 million), slightly above analysts'
forecast of 163.44 million euros, adjusted EBIDTA rose 6% to
67.5 million euros, over 3% above analysts' estimates
    ** Q2 billings amounted to 158.3 million euros, a 5%
increase year-on-year, mainly driven by new subscribers and
higher demand for longer-term contracts
    ** "Solid reporting should help shares to build on short
term uptrend," a local trader says
    ** "We believe the market will be relieved to see the
billings growth accelerate comfortably back into positive
territory", says J. P. Morgan 
    ** The broker expects to see a degree of relief in the
shares, given TeamViewer’s underperformance YTD 


($1 = 0.9243 euros)

 (Eva Orsolya Papp)
 ((evaorsolya.papp@thomsonreuters.com))