By David Sachs
OVHcloud shares fell Wednesday after the French cloud-computing company reported a widened net loss for fiscal 2023 due in part to interest payments and currency effects.
At 0735 GMT, shares in the company, which trades as OVH Groupe, were down 8.9% at EUR6.23.
The firm’s net loss of 40.3 million euros ($42.7 million) is larger than the hit in fiscal 2022, when it reported a EUR28.6 million deficit. OVHcloud cited EUR17 million in interest expenses and EUR6.3 million in losses from foreign exchange rates as reasons for its performance.
The company also posted a net operating loss of EUR12 million in the fiscal year, which included an insurance surcharge from a fire that destroyed its data center in Strasbourg in 2021. This compares with a EUR20.5 million loss in fiscal 2022.
Write to David Sachs at [email protected]
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