Struggling French tech giant posts disappointing Q1 results
Crisis-hit tech giant Atos is pushing back the deadline for its refinancing proposals after posting a slim operating profit of €48 million for calendar Q1.
Revenue for Eviden stood at €1.17 billion , down 3.9 percent year-on-year, while the top line for Tech Foundations was €1.3 billion , down 1.5 percent. At €48 million, operating profit was less than half the €110 million Atos reported for the same trading period a year ago. Megabuyte analyst James Preece was in agreement."Unfortunately, tough market conditions and customer reluctance to commit to new programmes of work are likely amplified by the suppliers' very public fight for their own survival – we can't see this changing until the refinancing goes through or someone scoops up the pieces," he stated.
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