Macquarie Shares Drop Sharply After Disappointing Half-Year Results
Macquarie Group experienced its largest intraday decline since April following half-year results that missed analyst expectations. The main driver was weaker earnings from its commodities division.
By midday, Macquarie shares fell 6.7% to $202.56, nearing an intraday low of $202.37. This represents the steepest drop since April 4, when the company's shares declined 9% amid market turmoil caused by tariff announcements.
About Macquarie Group
Macquarie is a diversified financial group offering asset management, finance, banking, advisory, risk, and capital solutions across debt, equity, and commodities. The company operates globally with strong roots in Australia.
Financial Performance Overview
- Reported net profit of nearly $1.7 billion, supported by asset management performance fees
- Profit fell short of analyst estimates of $1.86 billion for the first half
- Interim dividend declared was below the expected $3.09 per share
UBS analyst John Storey stated the results were "10.4 per cent below consensus estimates," with earnings per share (EPS) of $4.37 missing expectations by 10.9 per cent.
Despite reporting solid profits, Macquarie's results failed to satisfy market expectations, leading to a significant sell-off in its shares.
Author's summary: Macquarie Group’s shares plunged after half-year earnings missed targets, driven by weak commodities division results and lower-than-expected profit and dividend figures.
More News
- Minnesota Zoo and partners receive state architecture award
- James Watson, co-discoverer of DNA double helix, dies at 97
- James Watson dies: Why Nobel-winning scientist lost his titles, sold his medal in 2014
- Lucky Prestatyn street named People's Postcode Lottery winner today
- Predicted winners for every game in the first round of the N.C. football playoffs
- SWAT team surrounds Hollywood man’s home over images on Kik sexually exploiting girls
- Frankenstein had a major last-minute cast change you might not remember – and it was for the better
- Windows 11 issue shows
- Washington paedophile distributed abuse images to other perverts
- Typhoon Kalmaegi rampages across Vietnam as the Philippines prepares for a new storm