Australia's Audinate Group falls to 2-1/2-month low on weak outlook

Audinate

22/10/2024 01:37

** Shares of Audinate Group  AD8.AX  fall as much as 16.4%
to A$7.980, hitting their lowest level since Aug 7
    ** Electronic equipment provider reports unaudited gross
profit of $7.2 mln for Q1 FY25, says performance reflects
challenges faced at start of FY
    ** Co says unlikely to achieve FY25 gross profit forecast
    ** Co had previously expected to generate slightly lower
FY25 gross profit compared to FY24
    ** Says headwinds and challenges faced by co expected to
continue into Q2 FY25
    ** Stock down 41% this year, as of last close

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((Shivangi.Lahiri@thomsonreuters.com;))