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Investing.com -- Intrum shares fell 11% on Thursday after the company reported weaker than expected third-quarter results, primarily missing on its Servicing segment.
The company recorded negative goodwill impairments of SEK1 billion and positive net financial items of SEK1.5 billion, which represented much better financial effects from the recapitalisation transaction than anticipated.
Income decreased by 3% year-over-year, which was in line with expectations. However, EBITA came in 21% lower compared to the same period last year and missed forecasts by 66%.
The disappointing results stemmed from both the Servicing and Investing segments, despite known seasonality effects that typically impact the business during this period.
Kepler noted that the share would likely underperform today due to the weaker underlying results, even with the positive effects from the recapitalisation transaction.
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