Sales of terminals, the lifeblood of Bloomberg LP, are rebounding, which is good news for employees of the financial news and information giant.
Bloomberg CEO Dan Doctoroff, said he was seeing “an improved sales environment” in the third quarter, according to a memo sent to employees on Thursday.
“Now that we’ve wrapped up the third quarter, I wanted to share the good news that it was our best terminal sales and installs quarter of the year by a wide margin,” he said. “In fact, September was our best month in two years, at 1,246 net terminal sales and 797 net installs.”
While sales growth slowed during the recession, terminal installs are still at an all-time high of 316,000 worldwide.
He also noted that “removals have dropped significantly, particularly among our larger clients that are slowing cost cutting measures.
Annual employee bonuses, which are based on terminal sales, were crimped last year as Bloomberg’s core Wall Street clients cut back. But insiders should not bank on huge bonuses next year.
“All that said, it’s too early to call this a sustained trend, and the last few sales months of the year are going to take a concerted effort by everyone to keep up the momentum,” Doctoroff said.