TeamViewer shares surge on forecast-busting revenue
Shares in German software company TeamViewer were swelling on Wednesday morning, after it announced preliminary full-year revenue of €671m for 2024, making for a 9% increase from the €626.7m it recorded in the prior year.
The firm’s revenue exceeded its earlier guidance of between €662m and €668m, driven by stronger-than-anticipated billings of around €700m.
It said large enterprise and frontline deals finalised in the closing weeks of the fourth quarter played a significant role in that growth.
The company maintained its guidance for an adjusted EBITDA margin of no less than 44% for the year.
TeamViewer said it would release its full annual earnings report on 12 February.
At 1133 CET (1033 GMT), shares in TeamViewer were up 8.79% in Berlin, at €5.20.
Reporting by Josh White for Sharecast.com.