News

Slight Decline in Q3 Results for Sopra Steria

1 Mins read

Shares in Sopra Steria experienced a slide following the release of the company’s third-quarter results, which fell slightly short of consensus estimates.

Disappointing Q3 results

At 0938 GMT on Friday, Sopra Steria shares were down 7.4% at EUR160.40, reflecting the market’s response to the company’s performance.

The French consulting and digital-services provider reported revenue of 1.345 billion euros ($1.42 billion) for the third quarter, representing a 4% increase at constant scope and exchange rates.

Revenue expectations missed

According to a poll by Visible Alpha based on six estimates, the company was expected to post revenue of EUR1.36 billion. Despite the positive growth, the company’s actual revenue fell slightly short of market expectations.

Sales driven by key sectors

Sopra Steria attributed its sales growth primarily to activities in the defense, aerospace, public sector, and transportation sectors. Notably, all five reporting units contributed to this growth.

Maintaining full-year targets

Amidst an uncertain geopolitical context, Sopra Steria confirmed its full-year targets. However, the company emphasized that these targets were subject to no major deterioration in the economy.

The company’s full-year targets include organic revenue growth of at least 6% in 2023, an operating margin on business activity slightly surpassing 9%, and free cash flow of at least EUR300 million.

Future objectives

Looking ahead, Sopra Steria aims to achieve an operating margin on business activity of approximately 10% by 2024.

Conclusion

While Sopra Steria’s Q3 results may have fallen slightly short of market expectations, the company remains optimistic about its future prospects and continues to strive for steady growth and improved financial performance.

Related posts
InvestingNewsReviewsUncategorized

Top 5 Review Platforms

1 Mins read
1. Riskmoment 2. InvestReview 3. TopRankedReviews 4. Reddit 5. Infortix Best Forex Trading Robots For 2022
News

Nigerian Lawmaker Sues Binance Exec Tigran Gambaryan for ₦1 Billion Over Bribery Allegation | Blockchain Binance | CryptoRank.io

2 Mins read
Nigeria’s House of Representatives member Philip Agbese has filed a ₦1 billion defamation lawsuit against Tigran Gambaryan, an executive at Binance, over…
News

Trump meme launches Presidents' Day airdrop for official product buyers

2 Mins read
The $Trump token was the first of its kind and is now described as one of the biggest crypto onboarding events in…

Leave a Reply

Your email address will not be published. Required fields are marked *