2334 GMT - Infomedia's revenue downgrade was worse than Bell Potter was expecting, but it remains comfortable with a buy call on the stock. Infomedia now expects revenue of A$142 million-A$149 million in FY 2025, below earlier guidance of A$144 million-A$154 million. Infomedia had flagged the potential loss of SimplePart as a customer in August, and this week estimated the churn will have a A$4 million impact on annual recurring revenue. In a note, Bell Potter said this impact was higher than the A$1 million-A$2 million that it was expecting. "On a positive note, however, the company did say it still expects margins to be stable which was consistent with previous guidance," analyst Chris Savage says.(david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
November 11, 2024 18:34 ET (23:34 GMT)
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