Track shipments

French OVHcloud accelerates in first quarter, on track for 2022 targets By Reuters

© Reuters. FILE PHOTO: The logo of French cloud computing company OVHcloud is seen on a data center building in Strasbourg, France, October 13, 2021. REUTERS / Christian Hartmann

(Reuters) – French cloud computing company OVHcloud on Wednesday announced a 13.9% increase in first-quarter revenue and said it was on track to meet its annual targets.

Citing a good business performance with strong customer gains, the cloud service provider posted revenue of 187.2 million euros ($ 212.9 million) in September-November.

The group also highlighted the launch of new Platform-as-a-service (PaaS) solutions during the quarter, and an acceleration of its international expansion, particularly in the United States and Asia.

“All these factors allow us to calmly carry out our strategy to assert our European leadership, capitalize on the exponential growth of the cloud market and achieve our objectives throughout 2022”, declared the Managing Director Michel Paulin in a press release.

OVHcloud reiterated that it expects its revenue growth to be in the upper half of its initial target range of 10% to 15% and an adjusted profit margin before interest, taxes, depreciation and depreciation (EBITDA) of approximately 40% in fiscal year 2022. year.

The Europe-based company, which debuted in October in one of the biggest new listings of the year in Paris, is well positioned to capitalize on the exponential growth of the global cloud market, Paulin said. .

The competitive landscape remains dynamic, however, with Amazon (NASDAQ 🙂 Web Services, Microsoft (NASDAQ 🙂 ‘s Azure, and Google (NASDAQ 🙂 Cloud Platform making changes to their operations to comply with European regulations.

($ 1 = 0.8792 euros)

Warning: Fusion media would like to remind you that the data contained in this site is not necessarily real time or accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by the exchanges but rather by market makers. The prices may therefore not be exact and differ from the actual market price, which means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media assumes no responsibility for any business losses that you may incur as a result of the use of such data.

Fusion media or anyone involved with Fusion Media will not accept any responsibility for any loss or damage resulting from reliance on any information, including data, quotes, graphics and buy / sell signals contained in this website. Please be fully informed about the risks and costs associated with trading in the financial markets, it is one of the riskiest forms of investing possible.