Hypoport falls after revenue guidance cut
27/10/2023 06:59
** Shares in Hypoport HYQGn.DE are down almost 12% in
pre-market trade after the German financial services provider
cut its revenue forecast for 2023
** The company now expects revenue to fall by up to 25%
compared to its previous guidance for a decline of up to 10% and
consolidated EBIT to be in the range of 10-15 mln euros versus
at least 10 mln euros seen earlier
** Hypoport cited continued weak performance in the real
estate platform segment and the still subdued market recovery in
mortgage business
** The stock is at the bottom of the German small-caps index
.SDAXI
(Reporting by Anastasiia Kozlova)
((Anastasiia.Kozlova@thomsonreuters.com))