Australia's Macquarie Technology hits 11-week high on earnings growth outlook

Macquarie Technology

30/11/2023 03:02

** Shares of Macquarie Technology Group  MAQ.AX  rise as
much as 3% to A$69.125, their highest since Sept. 13
    ** MAQ gains for fourth straight day
    ** Telecom and data service provider says EBITDA will
continue to grow in FY24
    ** Says EBITDA expected to be flat in the 1H and grow in 2H
    ** Continues to see strong demand for cloud and cyber
security services in its government and cloud services
businesses
    ** On track for best month since June with 9.6% rise in
November, breaking a four-month losing streak
    ** Stock has risen 12.8% this year, as of last close

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))