GN tracks best day in five years after 'strong' Q1 beat

GN Store Nord A/S

02/05/2024 08:43

** GN Store Nord's  GN.CO  shares surge 12% after the Danish
hearing-aid company delivered better-than-expected earnings in
the first quarter 
    ** It posted Q1 EBITA of DKK 538 million (about $77.3
million), which according to Jefferies says came in 13% above
consensus 
    ** J.P.Morgan views the beat as "strong" with both key
divisions contributing
        ** JPM notes GN shares have outperformed the sector YTD
but remained on a discount given the perceived risks, notably
around recovery in Audio division
  
    ** The stock, on track for its best day since February 2019,
hits its highest since September 2022
    

1$ = 6.96 Danish crowns 

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