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TeamViewer reports Q2 revenue beat

Reuters
·1 min read
First day of trading of TeamViewer AG in Frankfurt

(Reuters) - German software developer TeamViewer reported higher-than-expected second quarter revenue on Wednesday, helped by strong growth in its Enterprise business.

Quarterly revenue rose 6% from a year earlier to 164.1 million euros, slightly above analysts' forecast of 163.44 million euros, according to LSEG data.

The region driving the revenue growth in the quarter was EMEA, while APAC saw the smallest percentage increase.

"We anticipate further improvements in profitability during the second half of the year and remain confident to deliver on our guidance for FY 2024," said CFO Michael Wilkens in a statement.

Billings for the quarter amounted to 158.3 million euros, a 5% increase year-on-year, mainly driven by new subscribers and higher demand for longer-term contracts.

The AMERICAS region recorded particularly strong billings growth of 10% year-on-year, fueled by larger deals from new customers.

(Reporting by Eva Orsolya Papp in Gdansk; Editing by Nick Zieminski)