Atea ASA (ATAZF) has released an update.
Atea ASA experienced a drop in financial performance in Q2 2024 compared to the previous year, with a notable 5.5% decline in revenue largely due to decreased networking equipment shipments. Despite this, software sales grew by 14.8%, driven by cloud subscriptions, and the company forecasts a stronger second half with improved hardware demand and software sales. This optimism is supported by a higher order backlog and the expectation of solid EBIT growth.
For further insights into ATAZF stock, check out TipRanks’ Stock Analysis page.
