software
Teamviewer is in the black in the third quarter
Teamviewer’s corporate headquarters in Göppingen. Photo: Stefan Puchner / dpa
© dpa-infocom GmbH
The software specialist is one of the beneficiaries of the corona pandemic. But high spending and lowered forecasts caused the share price to collapse recently. Now the people of Göppingen are presenting detailed figures.
The software provider Teamviewer was still in the black after a weak operating business in the third quarter.
The bottom line was a surplus of 3.7 million euros after almost 32 million euros a year ago, as the MDax company announced on Wednesday when the detailed quarterly figures were presented. The company confirmed the indicators for growth and operating profit that had already been known since the beginning of October, as did the lowered forecast.
For example, Teamviewer had stated that it was aiming for only between 535 and 555 million euros in billings for the year as a whole. Previously, the management had promised the lower end of the range of 585 to 605 million euros. Teamviewer expects sales for this year to be between 495 and 505 million euros instead of around 525 million euros.
The difference between billings and sales is that invoices include the contract volume invoiced for the next twelve months, while sales only include the amounts for the reporting period itself.
The provider of remote maintenance and video conferencing software, based in Göppingen, had benefited from high demand during the pandemic, but recently struggled with poor growth. The management around boss Oliver Steil also gambled away a large part of the trust of the investors with high marketing expenses and lowered forecasts. The share price fell by around 70 percent this year.