Australia's Macquarie Telecom hits over 4-month low on subdued forecast

Macquarie Technology

26/11/2021 04:45

** Shares of the telecom operator  MAQ.AX  fall as much as
3.7% to A$65, their lowest since July 16
    ** Co says its telecom revenue and earnings before interest,
taxes, depreciation, and amortization (EBITDA) will continue to
be affected by COVID-19 lockdowns which reduce office-based
higher margin voice usage and access lines  urn:newsml:reuters.com:*:nFWN2SG0PN
    ** Adds that implications on telecom revenue and EBITDA
partially offset by demand for new technologies  urn:newsml:reuters.com:*:nASX5GRKqF
    ** Shares down 8.1% this week, on track for their worst week
since March 2020
    ** Around 5,450 shares have changed hands, as compared to
the 30-day average volume of 5,243 shares
    ** Stock has risen 29% this year as of last close, compared
with a 10.9% increase in the ASX all ordinaries index  .AORD 

 (Reporting by Roushni Nair in Bangalore)
 ((Roushni.Nair@thomsonreuters.com))