France’s OVHcloud tops Q3 sales forecast on US growth, shares jump

French cloud services provider OVHcloud reported third quarter revenue ahead of market expectations on Thursday, driven by strong demand from U.S. tech companies.

OVHcloud seeks to gain global market share by offering a better price-to-performance ratio than larger, U.S.-based hyperscalers such as Amazon Web Services and Oracle . It has been facing setbacks in its European home market as the persistently challenging economic environment weighs on customers’ cloud spending.