TeamViewer cuts guidance on disappointing growth in enterprise deals

October 6, 2021

BERLIN (Reuters) – German software development firm TeamViewer cut its full year guidance on Wednesday, saying the contribution from large enterprise deals grew more slowly than expected, pushing its shares more than 11% lower.

The company said it now expects 2021 billings between 535 million and 555 million euros ($617-$641 million) compared to its previous forecast for the lower end of the range from 585 million to 605 million euros.

It also cut 2021 revenue guidance, expecting it between 495 million and 505 million euros, compared with previous guidance at the lower end of the range from 525 million to 540 million euros.

($1 = 0.8663 euros)

(Reporting by Zuzanna Szymanska; Editing by Riham Alkousaa)

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