CPU +15.49%: Broke through all-time-highs and posted its best one-day gain since 2016 as the share registry beat earnings expectations and lifted annual guidance.
- 1H revenue A$1.499bn vs. $1.465bn, 2% ahead of consensus
- 1H EBIT of US$565m, 3% ahead of consensus
- 1H diluted EPS of US$65.2cps (+19% y/y), 6% ahead of consensus
The key driver of the move was the uplift in full-year earnings guidance by ~15% to EPS of US$69.7cps. Earnings growth was driven by strong transactional revenue in both Plans and Issuer Services, especially for the December half. To sweeten the result, management also announced a lofty $750m on-market share buyback representing ~4% of the market cap. of the company.
MM is cautiously bullish CPU
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