Shares of banking software maker Temenos tumbled 20% in Swiss trade after the company warned late Thursday that earnings before interest and tax would decline by about 25% on the year with flat software licensing growth, vs. previous guidance of EBIT growth between 9% and 11% on software licensing growth between 16% and 18%. CEO Max Chuard said there were banks delaying signing decisions in the last weeks of the quarter due to uncertainties from the macro environment. Its third-quarter EBIT fell 53% on an 8% drop in revenue.
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10-14-22 0424ETCopyright (c) 2022 Dow Jones & Company, Inc.