© Reuters. FILE PHOTO: The brand of software program firm TeamViewer AG is pictured throughout TeamViewer’s preliminary public providing (IPO) on the Frankfurt Inventory Trade in Frankfurt, Germany, September 25, 2019. REUTERS/Ralph Orlowski
By Paolo Laudani and Tristan Veyet
(Reuters) – German software program developer TeamViewer reported higher-than-expected fourth-quarter income on Wednesday, helped by partnerships with tech corporations resembling Siemens.
Quarterly income rose 8% from a 12 months earlier to 163 million euros ($175.16 million), barely above analysts’ forecast of 160 million euros, in keeping with LSEG knowledge.
On a yearly foundation, the German software program developer reported barely increased than anticipated preliminary income which rose 11% to 626.7 million euros, above a company-provided consensus of 623.1 million euros, because of beneficial forex results.
“Regardless of a difficult macro surroundings and forex headwinds, we delivered robust 2023 outcomes,” stated CFO Michael Wilkens in an announcement.
TeamViewer’s shares have declined because the finish of the COVID-related restrictions, throughout which corporations had used its distant upkeep software program to attach the computer systems of staff and prospects working from house.
The developer of the homonymous software program expects 2024 income inside a spread of 660 to 685 million euros, seeing financial savings from the interruption of Manchester United (NYSE:) shirt sponsorship to positively have an effect on margins within the second half of the 12 months.
($1 = 0.9306 euros)