Tieto : A weak Q2 2019 release but it is exceptional. Full-year guidance confirmed
>Disappointing Q2 organic growth, but partially due to a calendar effect - Tieto's Q2 2019 sales, reported on Friday before market, came in at € 403m, stable y-o-y, -3% short of expectations (ODDO BHF & consensus: € 417m). Organic growth came to 1.0% y-o-y, well short of our expectations (ODDO BHF: +3.4% y/y org, no consensus), which shows a deceleration vs Q1 2019 (+2.1% y-o-y org), undermined by a negative calendar effect and by the negative impact of the change in...Tieto is an IT services company in the Nordics providing full lifecycle IT services. The reportable operating segments in service line dimension are Managed Services, which is an IT infrastructure and cloud provider that provides enterprise platform services and end user solutions; Consulting and System Integration, which provides consulting and system integration services, application management and transformation consulting; Industry Products, which provides industry-specific software products and productized solutions; and Product Development Services, which provides services in the field of communications and embedded technologies for a global customer base.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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