Australia's Domain drops after Q1 trading update

Domain Holdings Australia

08/11/2023 24:16

** Shares of online property listing firm Domain  DHG.AX 
down as much as 5.2% to A$0.3480, set for their worst day since
Aug. 17, if losses hold    
    ** Co reported 3% decline in national listing volume in its
first quarter trading update
    **Analysts at UBS and Citi says results miss expectations
due to underperformance on listing volumes
    **Co reports total revenue up 7.5% YoY
    ** Co reiterates cost growth guidance of mid to high single
digit in FY24  
    **Stock top loser in benchmark S&P/ASX 200 index  .AXJO 
    **About one million shares change hands at 0008 GMT, about
1.5 times the 30-day average 
    ** Stock up 35.4% this year as of last close

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))