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Mitel reports organic revenue down 3% in Q1 as on-premise market contracts faster than expected

Wednesday 2 May 2018 | 15:16 CET | News

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Mitel reported revenues for the first quarter of USD 313.8 million, down 3.4 percent from a year earlier at constant currency rates and pro forma for its takeover of ShoreTel. The company said on-site revenues contracted faster than expected, and cloud bookings were also down on a year earlier. The total revenues were in line with its guidance, helped by forex effects, while adjusted EBITDA was better than forecast, at USD 40.7 million versus a pro forma USD 29.0 million a year ago.

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Categories: Fixed
Companies: Mitel / ShoreTel
Countries: World
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