PropertyGuru Group Expects FY23 Revenue of S$148M-S$152M (Prior S$160M-S$170M) Vs $118.88M Est
Portfolio Pulse from Benzinga Newsdesk
PropertyGuru Group has revised its FY23 revenue forecast down to S$148M-S$152M from the previous S$160M-S$170M, citing a lack of recovery in Vietnam's property market and economic challenges in Malaysia. Despite the lower revenue outlook, the company maintains its 2023 Adjusted EBITDA outlook at S$11M-S$15M due to effective expense management.
November 21, 2023 | 7:51 am
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PropertyGuru Group has lowered its FY23 revenue expectations, which may lead to negative investor sentiment and potential short-term stock price decline.
The revision of the revenue forecast by PropertyGuru Group is a significant indicator of potential challenges the company is facing. Investors often react negatively to lowered revenue projections, which can lead to a decrease in stock price in the short term. However, the unchanged EBITDA outlook might mitigate some concerns as it suggests the company is managing expenses effectively.
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IMPORTANCE 80
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