Aussie Broadband falls to near 1-year low as FY25 forecast misses estimates

Aussie Broadband

15/07/2024 01:52

** Shares of Aussie Broadband  ABB.AX  fall as much as 20.2%
to A$2.850, their lowest level since Aug 9, 2023 
    ** The telecommunications co forecasts its FY25 EBITDA
(without impact of co's newly launched new challenger brand
Buddy) to be in the range of A$135 mln ($91.35 mln) to A$145 mln
    ** Jefferies says co's forecast range misses its estimates
by 12%
    ** Stock posts its biggest intraday pct fall since March 14
    ** About 2.1 mln shares change hands, compared with the
30-day average volume of 744,910
    ** Stock down 8.5% this year, as of last close
 
    ($1 = 1.4778 Australian dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))