Tietoevry gains as in-line Q2 report seen as positive surprise

Tieto Oyj

23/07/2024 09:39

** Tietoevry  TIETO.HE  shares rise 3.6% 
    ** The Finnish IT services firm reports Q2 revenue and
profit in line with company-compiled consensus
    ** Inderes analyst says the in-line results are a positive
surprise as many analysts did not adjust estimates to risks
    ** "The market has been weak and during Q2, the expectation
was that Tietoevry will see the bottom and then maybe gradually
improve, but that didn't happen", analyst says
    ** Also notes the increasing revenue and positive banking
area results
    ** Tietoevry keep 2024 outlook unchanged but CEO says "We
anticipate profit improvement in H2"

 (Reporting by Anna Chaberska)
 ((Anna.chaberska@thomsonreuters.com))