Banking software company Temenos slides on profit warning


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 Read the original article here.

Previous articleDow Jones Newswires: Royal Mail may lay off up to 6,000 after loss in first half
Next articleU.K. bond yields continue to slide as Kwarteng flies back from IMF meeting


Please enter your comment!
Please enter your name here