French cloud computing company OVHcloud has cut its forecast for its 2023 revenue growth from 14%-16% to 13%-14%.
The
company attributes its changed outlook to deteriorating macroeconomic
conditions, delays affecting certain cloud migration projects, and other
factors.
- OVHCloud also cites increasing personnel and operating costs as reasons for its trimmed growth outlook.
- The
company’s adjusted core profit (EBITDA) margin target for full-year
2023 is forecast to exceed 36%, which is lower than its previous
estimate of 39%.
- Rising
electricity costs, particularly in Germany, are impacting growth and
have led the company to increase its prices starting in Q4 2023.
- Based on a recent company press release, OVHcloud reported revenue of $480M for the first half of FY2023.
