November 11, 2019 / 6:11 AM / a month ago

Teamviewer core profits up 95% in first results since IPO

Nov 11 (Reuters) - German software connectivity company Teamviewer, which floated recently in Europe’s biggest initial public offering of 2019, reported a 95% rise in core profits and an expansion of its profit margins in the third quarter.

The listing, which valued TeamViewer at 5.25 billion euros ($5.8 billion), added a rare technology growth stock to a Frankfurt market that is heavy with industrial and auto stocks.

$1 = 0.9074 euros Reporting by Douglas Busvine; editing by Thomas Seythal

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