Australia's Freelancer hits near 2-month low on weak quarterly update

Freelancer

26/10/2021 05:18

** Shares of online outsourcing marketplace Freelancer Ltd
 FLN.AX  fall as much as 13.5% to A$0.675, hits lowest since
Sept 8 
    ** Says quarterly net receipts fell 8.2% to A$13.7 mln
($10.23 mln)  urn:newsml:reuters.com:*:nASX9sdWTY
    ** Says gross merchandise revenue was down 9% at A$33.1 mln
on declining paid advertising spend
    ** Stock marks biggest intraday pct loss since July 27
    ** Nearly 460,000 shares change hands vs. 30-day average of
82,000
    ** FLN is top pct loser on ASX All Ordinaries index  .AORD  
    ** Stock has risen ~61% this year, as of last close


($1 = 1.3398 Australian dollars)
    
 

 (Reporting by Navya Mittal)
 ((Navya.Mittal@thomsonreuters.com;))