Overall markets are expecting revenue to rise by 66% and EPS to rise by 11%.
Just 2 days ago, MP1 announced the upcoming release of Megaport Virtual Edge, a product innovation that enable the hosting of Network Functions Virtualisation (NFV) directly on MP1’s global Software Defined Network (SDN). This effectively removes the need for hardware.
MP1 also released its Q4 results last month, with June quarter growth not as strong as the previous quarter.
Although there was a slowdown in June’s quarterly growth, we see mid to long-term tailwinds for MP1 to continue its growth across key regions. With the surge in working from home as a result of COVID, we see this trend to continue and potentially change the working landscape for good as companies migrate from data infrastructure to cloud based tech. This will continue to push the growth of connections via virtual desktop infrastructure and cloud-based applications. MP1, with the release of its new product (Megaport Virtual Edge, which effectively removes the need for hardware), as well as a large footprint (669 enabled data centres), is positioned well to take advantage of this.
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