German software company Teamviewer said on Tuesday that demand for its remote connectivity was normalising after a surge driven by the coronavirus pandemic, but it still nudged its billings guidance higher for the year.
Billings, a measure of new business, are now expected to come in a range of 450 to 455 million euros ($532-$538 million), up from an earlier goal of 450 million euros, Goeppingen-based Teamviewer said.
Third-quarter billings growth slowed to 29 percent from 45 percent in the preceding quarter, while adjusted core profit margins of 55 percent were little changed on a quarter-on-quarter and year-on-year basis.
“Our performance in Q3 proves long-term growth opportunities in a normalized market environment after the pandemic-related extra demand,” said CFO Stefan Gaiser.
