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Tieto Q3 beats consensus, sees 2012 profit up more than 10 pct
October 23, 2012 / 5:30 AM / 5 years ago

Tieto Q3 beats consensus, sees 2012 profit up more than 10 pct

HELSINKI, Oct 23 (Reuters) - Nordic IT services provider Tieto reported better-than-expected profits for the third quarter, helped by cost cuts and sales growth, and raised its profit outlook for the year.

Tieto, which competes with bigger corporate technology services companies such as Accenture and IBM, reported an operating profit minus one-offs of 37.1 million euros ($48.49 million), beating all analysts’ forecasts in a Reuters poll.

It said it now sees full-year operating profit, excluding special items, to improve more than 10 percent from the previous year’s 117 million euros. It had earlier forecast profit to improve year-on-year. ($1 = 0.7651 euros) (Reporting By Tarmo Virki; Editing by Muralikumar Anantharaman)

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