Australia's Pointsbet falls on earnings forecast downgrade

PointsBet Holdings

31/01/2025 01:16

** Shares of Pointsbet Holdings  PBH.AX  down 18.4% to
A$0.8, on track for worst session since mid-May 2023
    ** Bookmaker downgrades FY25 EBITDA forecast to A$11
mln-A$14 mln ($6.83 mln-$8.69 mln) from A$11 mln-A$16 mln
    ** Co downgrades FY25 revenue guidance to A$260 mln-A$270
mln from A$280 mln-A$290 mln
    ** Co's 1H FY25 total normalised EBITDA fell to A$3.3 mln
from A$58.5 mln in 1H FY24
    ** About 2.9 mln shares change hands, 4.4 times the 30-day
average of shares
    ** Stock down 2% this year, as of last close

($1 = 1.6116 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com;))