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Gemalto lowers 2017 profit target, posts 1% Q3 revenue drop
2016-10-31 09:33:00| Telecompaper Headlines
(Telecompaper) Gemalto lowered its target for 2017 operating profit, with a revised guidance in the range of EUR 500-520 million. In March 2015, the company had raised this target to EUR 660 million from EUR 600 million previously, an increase mainly driven by its acquisition of data protection specialist SafeNet. CEO Philippe Vallee stated that the outlook had worsened for the Mobile business unit and that payment card migration was slower than expected. The company reported third quarter revenue of EUR 753 million, down 1 percent year-on-year at constant exchange rates (compared to an increase of 3 percent in the previous quarter).
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Category:Telecommunications