Business
Germany’s TeamViewer Trims Revenue Forecast on Fx Headwinds
Published by Uma Rajagopal
Posted on November 6, 2024
1 min readLast updated: January 29, 2026
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Company
Published by Uma Rajagopal
Posted on November 6, 2024
1 min readLast updated: January 29, 2026
Add as preferred source on Google(Reuters) – German software developer TeamViewer lowered its full-year revenue outlook on Wednesday, citing that
(Reuters) – German software developer TeamViewer lowered its full-year revenue outlook on Wednesday, citing that foreign exchange headwinds from 2023 billings could likely have a negative impact of up to 11 million euros ($11.84 million).
The company, which specialises in cloud-based technologies, now expects its revenue to hit 662 million euros-668 million euros, from a previous target of 660 million to 685 million euros.
The company, however, raised its outlook for adjusted core profit (EBITDA) margin to about 44%, up from the target of at least 43%, due to better-than-expected profitability in the third quarter.
The company said its profitability in the reported period was boosted by its reduced partnership with Manchester United (MANU.N), a trend it expects to continue benefiting its fourth-quarter margins.
($1 = 0.9289 euros)
(Reporting by Bernadette Hogg and Amir Orusov; Editing by Sherry Jacob-Phillips)
Foreign exchange refers to the global marketplace for trading national currencies against one another. It is essential for international trade and investment.
Adjusted core profit margin is a measure of a company's profitability that excludes certain non-recurring expenses, providing a clearer view of operational performance.
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