BERLIN (dpa-AFX) - TeamViewer AG (TMVWF.PK, TMVWY.PK), a remote connectivity and workplace digitalization solution provider, Tuesday reported a fall in its profit for the second quarter, reflecting higher costs and expenses, but revenues grew 7 percent year-on-year.
The Group's profit for the quarter slid to 14.7 million euros from 30.4 million euros, and earnings per share fell to 7 euro cents from 15 euro cents last year.
Operating profit for the period declined by 35 percent to 29.05 million euros. While EBITDA grew 3 percent to 41.7 million euros, adjusted EBITDA stood at 57 million euros for the quarter.
For the second quarter, the Group's revenue rose by 7 percent to 122.8 million euros. Revenue from subscription model grew by 20 percent to 122.3 million euros. Billings during the quarter were up by 15 percent on reported basis.
Copyright RTT News/dpa-AFX