Mitel Reveals Positive Results for Q2 of 2018
It's been an exciting quarter for Mitel and an impressive 2018 all-in-all
Following the release of the Gartner Magic Quadrant for UC, where Mitel maintained the top spot as an industry leader for the fifth year running, the global communications company announced a successful set of Q2 results. Mitel is a well-known communication in the communication space, with a reputation for helping service providers and enterprises alike maintain stronger connections, both internally and with their customers.
After the closure of their second quarter for the financial year of 2018, Mitel reported enhanced results for the business’s performance this year. Mitel not only saw higher revenues this quarter, but a more positive net result overall too. Revenues for Q2 rose to an impressive USD 324.7 million, from $236.6 million. On the other hand, the net result jumped from a loss of $0.1 million to a fantastic $15.4 million.
A Great Quarter for Mitel
It’s been an exciting quarter for Mitel and an impressive 2018 all-in-all. The number of recurring seats that Mitel holds today has just passed the 1 million mark. In the second quarter, recurring seats grew by 50,037, to a total of more than 1.2 million.
Mitel also noted their success with a large auto services company in the US, which converted 4,000 of their seats with a ShoreTel system into MiCloud Flex. The company also added a new contact centre with a contract value of $2.5 million. At the same time, the University of Arkansas sector for Medical Science moved it’s on-site Microsoft and Avaya service over to Mitel with a contract valued at $2 million.
Mitel also announced that their shareholders have officially approved the takeover of the company by Searchlight Capital Partners for a total price of USD 2 billion this month.
Additional Highlights for Mitel this Quarter
Mitel has moved from strength to strength in the most recent quarter. During the Google Next event held in San Francisco, the company announced an upcoming new integration with Google’s NEW Cloud Contact Center AI solution. This means that Mitel will be able to deliver a combination of various AI products in a highly secure and flexible communication solution for call centres.
What’s more, Mitel announced a new pan-international partnership this quarter with Westcon-Comstor, who will be distributing Mitel’s portfolio of communication and collaboration services across the South Pacific and EMEA markets. This should help to strengthen Mitel’s position as a leader in the communication market going forward and provide them with another strong performance record in Q3.