Sonova slides as H1 core earnings miss expectations
19/11/2024 09:06
** Shares of Sonova SOON.S slide 2% after the Swiss
hearing aid maker posted H1 core earnings below market
expectations, citing costs related to the launch of its new
AI-boosted hearing platform
** H1 EBITA fell 3.7% in local currencies to 325.2 million
Swiss francs ($368.25 million)
** "While Sphere looks like a decent launch, market
conditions (particularly in Europe) are expected to remain
subdued in H2," J.P. Morgan says
** "We don't think the results are good enough to drive
further multiple expansion and so we could see a little
profit-taking," the brokerage adds
($1 = 0.8831 Swiss francs)
(Reporting by Anastasiia Kozlova and Amir Orusov)
((Anastasiia.Kozlova@thomsonreuters.com))