Altium (ALU) with a rare miss at the half year result
Altium (ALU) -13.49%
They were out with 1H20 earnings after market yesterday, although they did go into a trading halt during the match which is strange. In any case, the guidance is really key in this business and what the market has focused on, and to that end they guided to full year revenue to be at the lower end of the previously guided range of US$205 - US$215, consensus currently sits at $US210m so it’s a miss.
For the 1H they generated revenue of $US93.4, up 19% on 1H19 which is the slowest rate of top line growth since H117. They did sight the impact of the Coronavirus, and they do generally have a second half skew however the market has taken this is a negative. Altium has beaten significantly at most results in recent times and although the market consensus was inline with pas guidance, the money was clearly moving ready for an upgrade to that at the half year which never came.
Altium (ALU) Chart
