TeamViewer shares surge on forecast-busting revenue

(Sharecast News) - Shares in German software company TeamViewer were swelling on Wednesday morning, after it announced preliminary full-year revenue of €671m for 2024, making for a 9% increase from the €626.7m it recorded in the prior year. The firm's revenue exceeded its earlier guidance of between €662m and €668m, driven by stronger-than-anticipated billings of around €700m.

It said large enterprise and frontline deals finalised in the closing weeks of the fourth quarter played a significant role in that growth.

The company maintained its guidance for an adjusted EBITDA margin of no less than 44% for the year.

TeamViewer said it would release its full annual earnings report on 12 February.

At 1133 CET (1033 GMT), shares in TeamViewer were up 8.79% in Berlin, at €5.20.

Reporting by Josh White for Sharecast.com.