The S&P/ASX 200 Index (ASX: XJO) is ending the week on a disappointing note. In afternoon trade, the benchmark index is down 0.7% to 8,209.2 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are charging higher:
The Harvey Norman share price is up 3% to $5.24. Investors have been buying this retail giant's shares after responding positively to its half year results. Harvey Norman posted a 6.6% increase in revenue to $2.29 billion and a 41.2% jump in reported profit before tax to $400 million. Management also spoke positively about the future thanks to the AI megatrend. It said: "The continuing innovation and mainstream adoption of Next Gen-AI PCs and devices are expected to drive further sales growth in the Home Appliances, Television, Audio, Mobile & Computer Technology categories through FY 2025 and beyond."
The Life360 share price is up 6% to $23.05. This has been driven by the release of a stronger than expected FY 2024 result. Total revenue was up 22% to US$371.5 million and adjusted EBITDA was up 121% to US$45.5 million. The latter was ahead of its guidance range of US$39 million to US$42 million. Looking ahead, management is guiding to adjusted EBITDA of US$65 million to US$75 million in FY 2025. Commenting on Life360's guidance, analysts at Goldman Sachs said: "FY25 guidance came broadly in-line with VA consensus expectations while we note that initial FY guidance is typically conservative with an expectation of upgrades as the year progresses."
The PEXA Group share price is up 7% to $12.19. This follows the release of the property settlement technology company's half year results. PEXA revealed that its revenue was up 25% to $202.5 million and its EBITDA increased 25% to $73.2 million. In light of its strong financial performance, the company announced a $50 million on-market share buyback.
The TPG Telecom share price is up 3.5% to $4.68. This morning, the telco giant released its FY 2024 results and reported a 1.5% increase in service revenue to $4.7 billion. This was driven by a strong performance in mobile services, which generated a 5.4% increase in revenue to $2.27 billion. The company's underlying EBITDA increased 3.4% to $1.99 billion, which was in line with its guidance. Looking ahead, management is guiding to EBITDA of between $1.95 billion and $2.025 billion in FY 2025, assuming no major shifts in operating conditions.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.