TietoEVRY : Q1 earnings beat expectations but new exceptional charges
>Q1 organic growth reached 8%, beating expectations, but FX very negative - Yesterday before the open, TietoEVRY reported Q1 2023 earnings. Organic growth came to 8.0% yoy, above our estimate (+6.1%). This solid performance was offset by very negative forex effects (SEK and NOK) so total growth came to just 2%. The organic slowdown was limited vs Q4 2022 (8.6%). This satisfactory performance was fuelled primarily by two segments: 1) Care which posted organic growth of...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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