Australia's Cochlear jumps on upbeat results, outlook

Cochlear

15/08/2023 01:57

** Shares of Australia's Cochlear Ltd  COH.AX  rise as much
as 7.9% to A$251.6; log their best intraday pct gain since Feb.
15 
    ** Stock hits highest since June 2 
    ** Hearing device maker posts full-year net profit
attributable of A$300.6 mln ($194.97 million), up 4%
    ** Says FY sales revenue was up 19% at A$1,955.7 mln 
    ** Co sees FY24 underlying net profit guidance range of
A$355 mln-A$375 mln, higher than current year 
    ** Adds co expects solid market growth rates to drive high
single digit growth in Cochlear implant units for FY24 
    ** Stock has risen 14.3% this year, as of last close


($1 = 1.5418 Australian dollars)

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))