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Bullboard - Stock Discussion Forum Converge Technology Solutions Corp T.CTS

Alternate Symbol(s):  CTSDF

Converge Technology Solutions Corp. is a services-led, software-enabled, information technology (IT) and cloud solutions provider. Its global approach delivers advanced analytics, artificial intelligence (AI), application modernization, cloud platforms, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries. It supports these solutions with... see more

TSX:CTS - Post Discussion

Converge Technology Solutions Corp > $6.50 the new 52wk low...GLTA
View:
Post by ITSUP2ME on Aug 10, 2022 9:25am

$6.50 the new 52wk low...GLTA

04:31 PM EDT, 08/09/2022 (MT Newswires) -- Converge Technology Solutions (CTS.TO) on Tuesday said its second-quarter profit rose tenfold on higher revenue from customer demand and acqusitions.

The information technology and advisory company said it earned C$11.68 million, or C$0.05 per share, in the period, up from C$1.03 million, or C$0.01,in the year-prior quarter. Adjusted profit, which excludes most one-time items, rose 111% to C$29.9 million, or C$0.14 per share, beating the average analyst estimate for the measure of C$0.10 per share, according to Capital IQ.

Net revenue rose to C$596.66 million from C$345.31 million.

"Despite the macroeconomic challenges faced in the consumer market, business demand for digital transformation and hybrid IT solutions remains robust while the deep technical skills that Converge possesses surrounding analytics, cybersecurity, cloud and managed services remain scarce, especially in the mid-market. I'm proud of the fact that the company has executed on our stated acquisition plans, closing 8 acquisitions to date," chief executive Shaun Maine said in a release.

Comment by ITSUP2ME on Aug 10, 2022 9:42am
So I thought....Go figure!!
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