France's OVHcloud confirms outlook, posts higher quarterly growth on public cloud strength

June 25 (Reuters) - French ‌cloud computing ​group ​OVHcloud reported organic revenue growth of 6.9% in the third quarter, up from 5.1% ‌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% and the rest of the world up ​8.6%, outpacing domestic growth of 5.8%, 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% 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% to €65.6 million, accounting for roughly 23% 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% to €174.0 million, while web ‌cloud, which includes domain names and hosting, edged up 2% to €50 million.

The net ‌revenue retention rate, a measure of how much ⁠existing customers are spending ‌relative to the ​prior year, reached 102%.

($1 = 0.8795 euros)

(Reporting by Leo Marchandon in Gdansk; Editing by Sherry ‌Jacob-Phillips)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• FOMC minutes from July 28-29th meeting
• Abbott to pay $670 million to settle some preterm infant formula cases
• Tunisia opposition protests against president amid economic discontent