Ionos Shares Plummet After Q3 Revenue Miss

Ionos, a German web hosting company, experienced a significant drop in its shares following the announcement of its Q3 revenue, which fell short of expectations. The company reported a 10% decrease in total revenue, with the core websites and cloud solutions segments also missing their forecasts. The AdTech division saw a substantial 66% decline in revenue, leading to its classification as discontinued operations. Despite the revenue challenges, Ionos managed to increase its customer base and slightly exceed expectations in adjusted EBITDA. However, analysts like George Webb from Morgan Stanley warned of potential risks, particularly for the cloud division, due to the weak revenue trend.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.