Australia's Megaport gains on solid quarterly earnings

Megaport

27/07/2023 02:35

** Shares of cloud services provider Megaport  MP1.AX  jump
as much as 6.1% to A$9.850, posting their biggest intraday pct
gain since July 12
    ** Stock among biggest gainers in the benchmark ASX 200
index  .AXJO 
    ** Co posts fourth-qtr normalised EBITDA of A$11.8 mln
($7.99 mln) and FY normalised EBITDA of A$20.2 mln, within its
guidance range
    ** Says FY EBITDA A$25.2 mln, within its guidance range of
A$24 mln to A$26 mln
    ** Says June ARR A$178.6 mln, up 39% from last year 
    ** Expects to be net cash positive for FY24
    ** MP1 stock up 47.1% YTD, as of last close 

($1 = 1.4769 Australian dollars)

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))