TietoEVRY Oyj Second Quarter 2024 Earnings: EPS Misses Expectations

TietoEVRY Oyj (HEL:TIETO) Second Quarter 2024 Results

Key Financial Results

• Revenue: €715.0m (up 2.8% from 2Q 2023).
• Net income: €28.3m (up 12% from 2Q 2023).
• Profit margin: 4.0% (up from 3.6% in 2Q 2023). The increase in margin was driven by higher revenue.
• EPS: €0.24 (up from €0.21 in 2Q 2023).

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

TietoEVRY Oyj EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 16%.

Looking ahead, revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the IT industry in Finland.

Performance of the Finnish IT industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 2 warning signs for TietoEVRY Oyj that you should be aware of.

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