Australia's 8common tracks best day in 8-months on higher revenue forecast

8Common

03/06/2022 01:58

** Fintech firm's shares  8CO.AX  climb as much as ~20% to
A$0.11
    ** Co sees Q4 revenue at A$1.6 million ($1.16 million),
nearly 87% higher than reported last year
    ** Co also sees Q4 recurring SaaS revenue in the range of
A$820,000 - A$830,000, the midpoint of which is 13% higher than
last year
    ** Shares on track for best day since Oct, 2021, if gains
hold 
    ** Stock, however, has fallen ~49% this year, as of last
close


($1 = 1.3757 Australian dollars)

 (Reporting by Indranil Sarkar in Bengaluru)
 ((Indranil.Sarkar@thomsonreuters.com;))