Australia's Megaport tops benchmark index on strong Q2 results

Megaport

30/01/2024 24:38

** Shares of Megaport  MP1.AX  rise as much as 30.3% to
A$12.740, their highest since April 20, 2022
    ** MP1 stock top gainer on the benchmark index  .AXJO 
    ** Cloud network service provider posts Q2 EBITDA of A$15.1
mln ($9.99 mln) - higher than consensus estimate of A$11.3 mln,
according to Citi
    ** Co posts 5% rise in Q2 total revenue compared with the
previous three-month period
    ** Citi sees potential for consensus EBITDA upgrades due to
better-than-expected half-year result
    ** Stock set for best day since July 11, 2023, if gains hold
    ** MP1 gained 45.8% in 2023


($1 = 1.5113 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))