Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Gemalto reports 19 percent rise in Q1 revenue

Published 04/29/2015, 07:01 PM
Updated 04/29/2015, 07:02 PM
© Reuters. The shadow of an attendee is cast below a logo of Franco-Dutch technology firm Gemalto during a news conference in Paris
GTO
-
SX8P
-

(Reuters) - Mobile chip and smart card maker Gemalto (AS:GTO) reported a 19 percent rise in first-quarter sales on constant exchange rates, its first release of results since finalizing the acquisition of U.S. data security company SafeNet in January.

First quarter revenue rose to 686 million euros ($762.49 million) compared to 532 million euros in the previous year.

The company beat analysts' expectations of 675 million euros in quarterly revenue.

Gemalto, which makes smart chips for mobile phones, bank cards and biometric passports, said Payment & Identity segment's revenue was 369 million euros for the first quarter, an increase of 35 percent compared to the previous year, helped by the SafeNet acquisition.

The mobile segment posted revenue of 316 mln euros, up 7 percent at constant exchange rates compared to the previous year.

The Franco-Dutch company did not give annual profit from operations guidance for 2015 but said it anticipates steady expansion in the year, on course towards its upgraded target of more than 660 million euros for 2017.

The company acknowledged in January that U.S. and British spies were likely to have hacked its technology in an attempt to steal codes that protect the privacy of mobile phone users. 

© Reuters. The shadow of an attendee is cast below a logo of Franco-Dutch technology firm Gemalto during a news conference in Paris

Shares of Gemalto are up 22.6 percent this year. They closed at 81.20 euros on Wednesday, outperforming a 14.4 percent rise in the European technology index (SX8P). The group has a market value of 7.35 billion euros, and shares are approaching a 2014 high of about 87 euros.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.