Banking software company Temenos slides on profit warning

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Shares of banking software maker Temenos TEMN, -22.45% tumbled 20% in Swiss trade after the company warned late Thursday that earnings before interest and tax would decline by about 25% on the year with flat software licensing growth, vs. previous guidance of EBIT growth between 9% and 11% on software licensing growth between 16% and 18%. CEO Max Chuard said there were banks delaying signing decisions in the last weeks of the quarter due to uncertainties from the macro environment. Its third-quarter EBIT fell 53% on an 8% drop in revenue.

This article was originally published by Marketwatch.com. Read the original article here.

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