Thanks to a final spurt, Teamviewer has achieved its growth targets for 2022.

The specialist for remote maintenance software announced on Wednesday that billed sales in the fourth quarter increased by 24 percent to 191 million euros after adjusting for currency effects. This brings the total annual revenue to 635 million euros. The company had forecast 630 to 650 million euros. In the third quarter, growth amounted to 15 percent.

As a result, Teamviewer shares rose by up to 3.1 percent to 13.40 euros, the highest level in more than seven months. The preliminary figures were above expectations, said a stockbroker. It was also encouraging that the operating margin was likely to be at the upper end of the expected range at 45 to 47 percent.

Teamviewer plans to publish its full financial figures for the fourth quarter and the past financial year at the beginning of February. An outlook will also be provided then.

(Report by Hakan Ersen, edited by Myria Mildenberger. If you have any questions, please contact our editorial team at berlin.newsroom@thomsonreuters.com (for politics and the economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).