May 12, 2020 / 5:15 AM / 16 days ago

Teamviewer smashes own guidance on Q1 billings, raises guidance

BERLIN, May 12 (Reuters) - German software company TeamViewer on Tuesday reported a 75% jump in billings in the first quarter as its remote connectivity services attracted new users, including people working from home due to the coronavirus pandemic.

That smashed its own guidance, which it raised in March, for billings growth of 60%. TeamViewer increased its target for annual billings in 2020 to 450 million euros ($486 million) and forecast a core profit margin of 56%. ($1 = 0.9257 euros) (Reporting by Douglas Busvine; editing by Thomas Seythal)

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