Australia's Cochlear slides on weaker-than-expected profit, outlook

Cohen & Steers

15/08/2024 02:33

** Shares of hearing implant maker Cochlear  COH.AX  fall as
much as 8.1% to A$310.26, their lowest since Feb 9, 2024
    ** Co sees FY25 underlying net profit between A$410 mln and
A$430 mln ($270.15 mln and $283.33 mln), below Visible Alpha
consensus of A$451.2 mln
    ** Posts a 27% jump in FY24 underlying earnings to A$386.6
mln, but missed consensus estimate of A$400.2 mln
    ** Stock among top three losers on ASX 200 benchmark index
 .AXJO 
    ** As of last close, COH up 13.1% YTD

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))