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Broker snap: Autonomy results cheer UBS
Mon, 01 Dec, 2008
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Broker snap: Autonomy results cheer UBS
Wed, 15 Oct 2008, 10:17:00
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Related Market Prices
Name
Value
Percent
Change
Autonomy Corporation
885.50p
-4.94%
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UBS has retained its 'buy' rating on <b>Autonomy</b> after the software giant's third quarter forecasts came in at the top of forecasts. <br /><br />The broker was cheered by Autonomy's confident view of its prospects in for 2009 and now expects the company to post sales of $573m during the year compared with a previous estimate of $555m.<br /><br />In the third quarter, Autonomy's profit before tax jumped 160% to $47.9m from $18.3m on revenues up 42% at $127.1m, driven by strong organic growth.<br />
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