Temenos reports sales for the second quarter of 2023 at the previous year's level. At the same time, profits increased slightly.
In the second quarter, the Geneva-based company posted sales of $239 million, up from $238.1 million in the year-ago period, according to a statement Thursday evening. Operating profit (EBIT) rose 8 percent to $84.7 million. Free cash flow climbed 26 percent to $62.7 million.
Software license revenue increased by 2 percent to $102.8 million.
Growth Forecast Confirmed
The sales environment remained stable, the company added. While performance in the United States was strong, the company had a solid quarter in Europe with good pipeline development. The sales environment remained stable.
In its outlook for the current year, Temenos reiterated its guidance for software license revenue growth of at least 6 percent. EBIT is expected to grow by at least 7 percent.
