France's OVHcloud confirms outlook, posts higher quarterly growth on public cloud strength
The logo of French cloud computing company OVHcloud is seen on the company's building in Paris, France, January 25, 2023. REUTERS/Sarah Meyssonnier
June 25 : French cloud computing group OVHcloud reported organic revenue growth of 6.9 per cent in the third quarter, up from 5.1 per cent in the previous quarter, supported by its public cloud division, and also confirmed its full-year outlook.
The growth was led by markets outside France, with the rest of Europe up 7.4 per cent and the rest of the world up 8.6 per cent, outpacing domestic growth of 5.8 per cent, suggesting April price hikes have not dampened demand.
Revenue rose to €289.6 million ($329.28 million) in the three-month period ended May, up from €271.9 million a year earlier. For the nine months to May, revenue reached €844.9 million, up 6 per cent on a like-for-like basis.
Public cloud, where the operator delivers computing power and storage over the internet on a pay-as-you-go basis, grew 20.2 per cent to €65.6 million, accounting for roughly 23 per cent of total revenue, helped by customer gains following the launch of its VPS 2027 virtual server offering aimed at smaller clients.
Private cloud, a dedicated infrastructure managed for individual clients, grew 4.0 per cent to €174.0 million, while web cloud, which includes domain names and hosting, edged up 2 per cent to €50 million.
The net revenue retention rate, a measure of how much existing customers are spending relative to the prior year, reached 102 per cent.
($1 = 0.8795 euros)
