Fortnox Third Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Fortnox (STO:FNOX) Third Quarter 2024 Results

Key Financial Results

• Revenue: kr530.0m (up 27% from 3Q 2023).
• Net income: kr189.0m (up 27% from 3Q 2023).
• Profit margin: 36% (in line with 3Q 2023).
• EPS: kr0.31 (up from kr0.24 in 3Q 2023).

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

Fortnox EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) exceeded analyst estimates by 1.6%.

Looking ahead, revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Software industry in Sweden.

Performance of the Swedish Software industry.

The company's shares are up 13% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. We have a graphic representation of Fortnox's balance sheet and an in-depth analysis of the company's financial position.

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