PropertyGuru's Q1 Stumbles: Singapore Shines, But Growth Elsewhere Sputters
Portfolio Pulse from Lekha Gupta
PropertyGuru Group Limited (NYSE:PGRU) reported Q1 FY24 results with a 12% Y/Y revenue growth to S$36.5 million, missing the consensus of S$37.3 million. Singapore's strong performance offset flat growth in Vietnam and Malaysia. Adjusted EBITDA rose to S$4 million, and EPS loss improved to S$0.04. The company remains cautiously optimistic, focusing on cost management and profitability.
May 21, 2024 | 5:18 pm
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PropertyGuru's Q1 FY24 results showed a 12% Y/Y revenue growth to S$36.5 million, missing the consensus of S$37.3 million. Strong performance in Singapore offset flat growth in Vietnam and Malaysia. Adjusted EBITDA rose to S$4 million, and EPS loss improved to S$0.04. Shares are down 3.78%.
The revenue miss and flat growth in key markets like Vietnam and Malaysia, despite strong performance in Singapore, have led to a negative market reaction. The stock is down 3.78%, indicating investor disappointment. However, improved EBITDA and EPS loss show some positive signs.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100