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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
Autonomy
after the software giant's third quarter forecasts came in at the top of forecasts.
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.
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.
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