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An announcement from Megaport ( (AU:MP1) ) is now available.
Megaport reported a strong rise in half-year revenue to $134.9 million, up 26%, with gross profit climbing 31% and EBITDA increasing 28%, but the group swung to a net loss after tax of $19.1 million versus a small profit a year earlier, and no interim dividend was declared. The company’s net tangible asset backing per share fell sharply year on year, while it broadened its infrastructure and geographic reach by acquiring Latitude.sh, a compute platform offering automated access to dedicated servers, and Extreme IX, an Indian internet exchange operator, underscoring a strategic push into higher-value compute and interconnection services that could reshape its competitive position in global cloud networking.
The most recent analyst rating on (AU:MP1) stock is a Hold with a A$11.00 price target. To see the full list of analyst forecasts on Megaport stock, see the AU:MP1 Stock Forecast page.
More about Megaport
Megaport Limited operates in the network connectivity and cloud services sector, providing elastic interconnection and related infrastructure solutions to enterprises globally. Through recent acquisitions, it is expanding into Compute as a Service via Latitude.sh’s automated dedicated server platform and enhancing its presence in internet exchange services with India-based Extreme IX.
Average Trading Volume: 793,437
Technical Sentiment Signal: Hold
Current Market Cap: A$1.94B
For an in-depth examination of MP1 stock, go to TipRanks’ Overview page.