By Reuters | Updated: 11 January, 2024
Jan 11 (Reuters) – French cloud services provider OVHcloud (OVH.PA) on Thursday posted higher first-quarter sales, roughly in line with expectations, helped by a solid performance in Europe, while maintaining its targets for this year and 2025.
Sales in the quarter grew 12.0% on a like-for-like basis to 239.8 million euros ($263.30 million), nearly matching a company provided consensus expectation of 12.5% growth.
Some global cloud companies, including sector major Oracle (ORCL.N), have faced a sales slowdown due to macroeconomic uncertainties. OVH in October gave a lower- than-expected sales target for the current year.
“In an uncertain economic environment, where customers are optimizing their spending, our performance-price ratio is particularly attractive,” OVHcloud CEO Michel Paulin Paulin said in a statement on Thursday.
In France, which accounts for nearly half of OVH’s revenue, sales were up 9.3%, while Europe excluding France saw growth of 16.3%.
($1 = 0.9107 euros)
© Thomson Reuters 2024
