Telco stocks in Australia and New Zealand have seen wide spreads in performance over the last 12 months. Economic growth is expected to remain sluggish relative to previous years, creating uncertain performance for telco equities.
Megaport’s shares soared 38% in January. The Brisbane-based company beat its quarterly earnings target thanks to cost cutting initiatives and a quarterly revenue increase of 5% to $48.6 million, while annual recurring revenue lifted 1%.
TPG’s stock bumped up 3% in January as news circulated that Vodafone Group is weighing the possible sale of its stake in the company. Vodafone and Hutchison 3G Australia have together held 50.1% of the fixed and mobile operator since merging with ISP TPG in July 2020.
Swoop’s stock declined 18% in January, despite no price sensitive announcements being made. This reversed its gain from late November where investors appealed to positive FY24 guidance. The stock appears to be maintaining its volatility from 2023.
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