OVHcloud confirms its outlook as public cloud growth accelerates past 20%
Europe’s largest cloud company posted faster third-quarter growth and reaffirmed full-year guidance, with its public cloud segment back above 20%.
OVHcloud, the Roubaix-based group that France keeps nominating as Europe’s answer to the American hyperscalers, reported faster revenue growth in its fiscal third quarter on Thursday and reaffirmed its full-year guidance, helped by a public cloud business that has climbed back above 20% expansion.
Revenue for the three months to the end of May came in at €289.6 million, up 6.9% on a like-for-like basis and 6.5% as reported, according to the company’s results release.
That is a clear sequential pick-up from the 5.1% organic growth recorded in the second quarter, and it pushed nine-month revenue to €844.9 million, up 6.0%.
The acceleration was concentrated in one segment. Public Cloud, which accounts for just under 23% of revenue, grew 20.2% like-for-like to €65.6 million, a sharp recovery from the...
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