(Reuters) -French cloud services provider OVH on Thursday reported a 9.35% rise in third-quarter revenue to 272 million euros ($287 million), driven by strong demand for its Public Cloud services, and
OVH Sees 9.3% Revenue Growth in Q3, Driven by Public Cloud Demand
(Reuters) -French cloud services provider OVH on Thursday reported a 9.35% rise in third-quarter revenue to 272 million euros ($287 million), driven by strong demand for its Public Cloud services, and reaffirmed its full-year forecast.
Revenue from the Public Cloud segment grew 17%, with new customer acquisitions increasing 12%, OVH said.
Its Private Cloud division also logged robust growth, with a 25% jump in new customers during the quarter, attributed to a repositioning of some offerings, CEO Benjamin Revcolevschi stated.
Stock of the company, which joined France's SBF 120 index in June, has risen more than 170% year-to-date, according to LSEG data.
"We are on track to exceed 1 billion euro in revenue this year," Revcolevschi said, adding, "We are at the heart of a new dynamic with the acceleration of enquiries for sovereign solutions."
OVH previously highlighted the growing appetite in Europe for locally developed digital utilities, driven by rising concerns over data and infrastructure sovereignty.
(Reporting by Leo Marchandon; Editing by Janane Venkatraman and Tom Hogue)
