Business
ASX to dip, earnings season accelerates – The Sydney Morning Herald
The ASX 200 has dropped nearly 50 points at the open to around 6075 points. Healthcare and consumer discretionary sectors are higher, while banks and info tech are dragging.
Net profit dropped 42 per cent to $30.9 million as it sacrificed earnings to hit its subscriber target of more than 50,000 users for 2020.
RBC analysts said the EBITDA beat would be welcomed by the market but noted the increase in accounts receivable as customers terms were extended during the pandemic. RBC also said 2020-21 guidance range is lower than market consensus with mid points for sales expectations about 6 per cent below the market and EBITDA guidance from 2 per cent to 7 per cent bel…
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