Australia's X2M Connect jumps most in 3 months on upbeat quarterly update

X2M Connect

30/01/2023 01:15

** Shares of X2M Connect Ltd  X2M.AX  jumps as much as 9.1%
to A$0.084, their biggest intraday pct gain since Oct 26, 2022
    ** The smart devices solutions provider posts qtrly revenue
of A$5.2 mln ($3.70 mln), up 74% on pcp
    ** Says for Dec 2022, its annualised recurring revenue is
A$1.1 mln
    ** Shares touch their highest levels since Jan 17
    ** Volumes are 4.1x the 30-day average of 33,442 shares
    ** X2M stock down 52.6% in 2022
    ($1 = 1.4051 Australian dollars)
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))