TIETOEVRY

Finnish IT services company Tietoevry reported higher third-quarter revenue and profit, but the results were significantly inflated by a favorable court ruling in its banking division.

Finnish IT services company Tietoevry on Monday raised its full-year profit forecast, citing a favorable court ruling, but trimmed the upper end of its revenue growth outlook.

Finnish IT services company Tietoevry has completed the sale of its Tech Services business to private-equity firm Agilitas Private Equity for 300 million euros, the company said Tuesday.

Finnish IT services company Tietoevry said Tuesday it will get a financial boost of approximately 35 million euros after a favorable Norwegian court ruling in a dispute with customer Sparebank1 Utvikling became final.

Finnish IT-services company Tietoevry appointed Endre Rangnes as its new chief executive and announced a major cost-cutting plan as it reported a second-quarter loss and a drop in revenue.

Tietoevry on Monday appointed Endre Rangnes as its permanent chief executive, raising questions about the future of a planned spinoff of its banking division, which Mr. Rangnes previously led.