Team, Inc. Reports Third Quarter 2024 Results

Record Revenue and Earnings Driven by Continued Growth in Cloud and Digital Services

Financial Highlights

Revenue of $10.1 billion, an increase of 15% year-over-year
Net income of $2.5 billion, an increase of 20% year-over-year
Diluted earnings per share of $1.83, an increase of 22% year-over-year

Business Highlights

Cloud revenue grew 25% year-over-year, driven by strong demand for infrastructure, platform, and software-as-a-service (SaaS) offerings.
Digital services revenue grew 18% year-over-year, led by growth in e-commerce, digital marketing, and social media.
Team, Inc. expanded its global presence by opening new offices in Europe and Asia.
The company also announced the acquisition of a leading provider of artificial intelligence (AI) solutions.

Outlook

Team, Inc. is optimistic about its future growth prospects. The company expects to continue to benefit from the growing demand for cloud and digital services. Team, Inc. also plans to invest in new technologies, such as AI and machine learning, to further enhance its offerings.

CEO Commentary

"We are very pleased with our third quarter results," said John Smith, CEO of Team, Inc. "Our continued growth in cloud and digital services is a testament to the strength of our offerings and the value we provide to our customers. We are also excited about the acquisition of a leading provider of AI solutions, which will further enhance our ability to meet the needs of our customers."