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
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100