Australia's Audinate Group rises to 4-month high on positive outlook update

Audinate

17/02/2025 01:03

** Shares of Audinate Group  AD8.AX  rise as much as 28.6%
to A$9.750, set for their best day, if gains hold
    ** Stock at its highest level since October 21, 2024
    ** Co expects to return to normal order patterns and growth
by FY26 and confirms long-term outlook remains strong
    ** Stronger-than-forecast cost control drove earnings beat
to both our and consensus estimate, Jefferies says in a note
    ** Outlook statement largely in line with expectations of Q2
being better, Jefferies adds
    ** Stock up 29.7% YTD, including current session's moves

    

 (Reporting by Manasi Dasa Sundeep in Bengaluru)
 ((Manasi.DasaSundeep@ThomsonReuters.com))