Reported 19 days ago
German software firm TeamViewer has revised its annual adjusted core profit margin outlook upward after reporting better-than-expected performance in Q3, following a scaled-back sponsorship deal with Manchester United. The adjusted EBITDA margin rose to 48%, but the company has lowered its revenue expectations for 2024 due to foreign exchange pressures, now predicting between 662 million and 668 million euros. While its SMB segment saw a decline in billings, the enterprise segment experienced significant growth. CEO Oliver Steil noted that customer purchasing slowed amid U.S. election uncertainty but expects potential improvements ahead.
Source: YAHOO