(Reuters) -OVHcloud on Wednesday forecast lower organic growth in the next fiscal year, citing uncertain macroeconomic conditions continue to dent the French cloud services provider’s operations.
OVH sees its revenue in the 2024 fiscal year to rise by 11-13%, while analysts in a company-compiled poll expect full-year revenue growth of 14.7% on average.
The company, which generates more than 80% of revenue from cloud operations, said “an economic context” continued to affect its North America business in the last fiscal year, which ended on Aug. 31.
Revenue in the year rose 13.4% to 897 million euros ($950.91 million), a touch below 899.8 million seen by analysts, OVH said. This came in line with its latest forecast for a 13-14% full-year growth.
($1 = 0.9433 euros)
(Reporting by Boleslaw Lasocki; Editing by Christopher Cushing and Sherry Jacob-Phillips)
