By Helena Smolak
At 1003 GMT, shares of Bechtle were down 4.69% to EUR43.32, following the company's announcement of its third-quarter financial results. While both revenue and earnings showed growth, they fell short of consensus expectations.
In the third quarter, Bechtle reported a net profit of 66.8 million euros ($71.3 million), up from EUR63.4 million in the same period last year. This increase was driven by the growth in revenue from its software and service business and steady demand from larger customers.
The company's revenue for the quarter reached EUR1.48 billion, compared to EUR1.46 billion in the previous year. Although Bechtle's IT-system services segment experienced a 5.8% increase in revenue, its IT e-commerce segment declined by 7.5% due to lower demand among medium-sized customers.
Pretax earnings also saw growth, rising by 6.4% to EUR93.9 million, with a margin of 6.3% compared to 6.0% previously.
Analysts had predicted a pretax profit of EUR94.5 million on revenue of EUR1.56 billion, according to consensus estimates provided by the company.
Despite missing expectations, Bechtle confirmed its full-year guidance.
