French cloud services provider OVH on Thursday reported a 9.35 per cent rise in third-quarter revenue to 272 million euros ($287 million), driven by strong demand for its Public Cloud services, and reaffirmed its full-year forecast.
Revenue from the Public Cloud segment grew 17 per cent, with new customer acquisitions increasing 12 per cent, OVH said.
Its Private Cloud division also logged robust growth, with a 25 per cent jump in new customers during the quarter, attributed to a repositioning of some offerings, CEO Benjamin Revcolevschi stated.
Stock of the company, which joined France’s SBF 120 index in June, has risen more than 170 per cent year-to-date, according to LSEG data.
“We are on track to exceed 1 billion euro in revenue this year,” Revcolevschi said, adding, “We are at the heart of a new dynamic with the acceleration of enquiries for sovereign solutions.”
OVH previously highlighted the growing appetite in Europe for locally developed digital utilities, driven by rising concerns over data and infrastructure sovereignty.
