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IT
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BIT:WIIT

Wiit Reports Third Quarter 2023 Earnings

Simply Wall St

November 15, 2023

Wiit (BIT:WIIT) Third Quarter 2023 Results

Key Financial Results

Revenue: €32.0m (up 3.1% from 3Q 2022).
Net income: €2.97m (up 86% from 3Q 2022).
Profit margin: 9.3% (up from 5.1% in 3Q 2022). The increase in margin was primarily driven by higher revenue.

earnings-and-revenue-growth — BIT:WIIT Earnings and Revenue Growth November 15th 2023

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

Wiit Earnings Insights

Looking ahead, revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 5.8% growth forecast for the IT industry in Italy.

Performance of the Italian IT industry.

The company's shares are up 11% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 1 warning sign for Wiit that you need to be mindful of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.