Atea ASA Projects Stronger H2 Despite Q2 Dip

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.

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