Australia's Audinate eyes worst day ever on bleak FY25 outlook

Audinate

06/08/2024 03:57

** Shares of Audinate Group  AD8.AX  fall as much as 51.2%
to A$6.500, eyeing its worst day ever, if current losses hold   
 
    ** Networking solutions co says it expects to generate gross
profit in FY25 to be marginally lower than FY24
    ** Adds there will likely be a decline in revenue in FY25
    ** Stock hits lowest since June 22, 2022
    ** AD8 eyes fourth straight day of losses, if trend holds
    ** About 3.5 mln shares change hands, compared with the
30-day average volume of 278,485
    ** AD8 down 17.7% YTD, as of last close

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))