Autonomy has delivered second quarter results ahead of our expectations, and the outlook statement is better than we hoped. Again, cloud is the highlight of the results – with 17 per cent growth and ‘commit’ up 27 per cent to £267m.
MICHAEL BRIEST | UBS
Cost-cutting at the acquisition is running ahead of plan and profitability in the fourth quarter should show upside versus current expectations and continuing improvement in prospects for 2012. Aurasma take-up has been strong with over 1m downloads in its pre-revenue period and most R&D costs sunk to-date.
MILAN RADIA | JEFFERIES
The relatively positive tone of Q&A in the analyst call confirms that suspicions with respect to accounting issues have faded. The scene is set for the premium organic growth rate to unfold into a premium rating, which we believe to be entirely warranted