Friday, 9 October 2009

Autonomy continues to see ‘strong trading’

(By Philip Carnelley, 09.45, 9 Oct 09) Continuing on its stellar path, Autonomy has issued a trading update saying it is seeing ‘strong trading despite the macro environment.’ It now expects to report Q3 revenues around 5% ahead of its previous modelled figure, at about $192m (51% growth including acquisitions), with profits also slightly ahead of expectations. CEO Mike Lynch commented that the company experienced “significant demand across multiple sectors.” Despite predicting yet another fine result, the (also stellar) share price fell slightly (1%). Even so, Autonomy trades at 8x PSR and 34x PE, way above the sector average.

No comments:

Post a Comment