Australia's Audinate hits record high on robust HY results

Audinate

11/02/2024 23:46

** Shares of Audinate Group Ltd  AD8.AX  jump as much as 17%
to a record high of A$18.75
    ** Provider of audio-visual networking technologies posts HY
net profit after tax of A$4.7 million ($3.06 million) vs A$0.4
million loss a yr ago
    ** Says HY revenue rose 47.7% to A$46.6 million
    ** Sees growth in gross profit for FY24 will be consistent
with historical performance
    ** Stock posts its biggest intraday gain since Aug 21, if
current trend holds 
    ** More than 277,281 shares change hands, vs the 30-day
average volume of 208,836 shares
    ** Stock down 0.9% this year as of last close



($1 = 1.5340 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))