Ryanair Q1 Highlights: Revenue Growth Of 40%, Net Profit More Than Tripled On Weak Comparables
Portfolio Pulse from Lekha Gupta
Ryanair Holdings PLC reported Q1 FY24 revenue growth of 40% Y/Y to €3.65 billion and net profit of €663 million, a significant increase from €170 million a year ago. The company's operating costs increased 23% Y/Y to €2.94 billion due to higher fuel costs, staff costs, and increased ATC fees. Ryanair now expects traffic to be around 183.5 million (+9% Y/Y), slower than earlier guidance of 185 million, due to delivery delays. The company's shares are trading down by 3.74% at $103.50 premarket.
July 24, 2023 | 12:34 pm
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Ryanair reported strong Q1 FY24 results but shares are trading down due to lower than expected traffic guidance and increased operating costs.
Ryanair reported strong Q1 FY24 results with significant revenue growth and net profit. However, the company's shares are trading down due to lower than expected traffic guidance and increased operating costs. This could indicate investor concern about the company's future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100