TietoEVRY : The turbulence at the digital consulting level looks partly temporary
>Surprise fall for digital consulting in Q3 - Before the start of trading yesterday, TietoEVRY reported Q3 2021 revenues of € 648.1m, around 2% lower than expected (ODDO BHF: € 657.9m; consensus: € 660m). Organic growth came in at 1% y-o-y, below our expectations (vs ODDO BHF: 2.7% y-o-y organic), therefore showing a deterioration vs Q2 2021 (+1.5% y-o-y organic) mainly penalised by: i/ cloud & infra, where the decline is still just as marked at -10% y-o-y organic, (-...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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