Gofore Oyj Third Quarter 2024 Earnings: EPS Beats Expectations

Gofore Oyj (HEL:GOFORE) Third Quarter 2024 Results

Key Financial Results

• Revenue: €39.9m (down 2.4% from 3Q 2023).
• Net income: €3.30m (up 33% from 3Q 2023).
• Profit margin: 8.3% (up from 6.1% in 3Q 2023). The increase in margin was driven by lower expenses.
• EPS: €0.21 (up from €0.16 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Gofore Oyj EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 17%.

Looking ahead, revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 2.7% growth forecast for the IT industry in Finland.

Performance of the Finnish IT industry.

The company's shares are down 3.9% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on Gofore Oyj's balance sheet.

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