ALSO shares plummeted nearly 18% in European trading following a significant profit shortfall for the second half, despite revenue exceeding expectations and management affirming its strategic outlook.

The company reported H2 revenue of 9.32 billion euros, 17.8% above consensus, driven by strong cloud and services growth, though adjusted EBIT and net profit missed forecasts due to higher depreciation and integration costs from recent acquisitions. The 59% EBIT shortfall and 40% net profit miss are expected to exert near-term pressure on the stock price, even as operational fundamentals and long-term growth drivers like AI infrastructure demand remain intact.

This sharp decline underscores the market's sensitivity to profitability metrics, highlighting how revenue growth alone may not shield a company from investor scrutiny when costs and integration expenses weigh heavily on margins.