BitMine stock falls after CEO change and board appointments
Investing.com -- Sinch shares fell 8% on Wednesday after the company reported its third-quarter results showing mixed performance across regions and segments.
The company’s gross profit grew 5% organically, slightly exceeding market expectations. In absolute terms, gross profit was broadly in line with consensus estimates, while revenue came in 3% below Morgan Stanley estimates and 2% below overall consensus.
Regional performance varied significantly, with Americas showing the strongest growth at 8% organically. The Asia-Pacific region grew more modestly at 2%, while Europe, Middle East, and Africa declined by 3%.
Among business segments, Network Connectivity posted the strongest performance with 18% organic gross profit growth. Applications segment grew by 3%, while API segment remained flat.
The company’s adjusted EBITDA exceeded expectations by 2-4%, reaching a margin of 13.7% of net sales, which represented a 0.8 percentage point increase year-over-year.
Free cash flow reached SEK 219 million, significantly above Morgan Stanley’s expectation of SEK 116 million.
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