CompuGroup (CMPVF) [ETR:COP] has released its full Q3 financial figures on November 7. The results were surprisingly strong, with both the top line and bottom line beating our expectations.
Following the results, the stock surged to €60.70 or 7.4% in intra-day trading while subsequently closing at €56.50 or +2.6%. We reckon the market was also not expecting such a strong set of results, in particular after two preceding profit warnings triggered by fading telematics sales and failed large M&A. In fact, we believe investors have been expecting (including us) another set of dull results, especially