GN hits bottom of STOXX as earnings miss expectations

GN Store Nord A/S

22/08/2024 08:23

** GN Store Nord  GN.CO  shares fall 8% after the Danish hearing
aid and audio solutions maker delivered Q2 results below
expectations
    ** The group's quarterly revenue came in 1% below consensus
with an even greater disappointment on EBITA line -- a miss of
5% when compared to a consensus cited by J.P.Morgan
    ** The group reiterated its full year guidance, which it cut
in June
    ** "There may be a little disappointment that the top end of
the Hearing guidance range hasn't been nudged up," JPM says
    ** The brokerage adds that recovery in the Enterprise market
takes longer than expected, and return to growth is not likely
until the end of financial year 2024
    ** The stock, on track for its worst day in a year, is at
the bottom of STOXX 600 index  .STOXX 



($1 = 6.6938 Danish crowns)

 (Reporting by Anna Chaberska)
 ((Anna.chaberska@thomsonreuters.com))