It has been a very disappointing day of trade for the S&P/ASX 200 Index (ASX: XJO) on Thursday. In afternoon trade the benchmark index is down 1.95% to 6,649.2 points.
Four ASX shares that have not let that hold them back today are listed below. Here's why they are storming higher:
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Bigtincan Holdings Ltd (ASX: BTH)
The Bigtincan share price has climbed 4% to $1.11 following the release of its second quarter update. Bigtincan continued its strong form during the quarter and delivered annualised recurring revenue (ARR) of $48.4 million. This represents growth of 50% over the prior corresponding period. Management revealed that this comprised organic ARR of $40 million (up 42.9%) and ARR of $8.4 million from recently completed acquisitions.
Bubs Australia Ltd (ASX: BUB)
The Bubs share price is up 7.5% to 65 cents after reporting an improvement in its performance during the second quarter. For the three months ended 31 December, Bubs reported gross revenue to $12.8 million. While this was a 12% reduction on the prior corresponding period, it was up 36% on its first quarter gross revenue. Bubs also revealed improvements in the corporate daigou channel during the quarter.
LiveTiles Ltd (ASX: LVT)
The LiveTiles share price has jumped 5% to 22 cents following the release of its second quarter update. According to the release, as of the end of December, LiveTiles' ARR had increased 10.2% year on year to $58.1 million. In constant currency, LiveTiles' ARR would have grown 23% year on year to $64.7 million. This was driven by customer additions and an increase in average ARR per customer.
Treasury Wine Estates Ltd (ASX: TWE)
The Treasury Wine share price is up 5% to $9.74 despite there being no news out of the wine company. However, a sharp pullback in the Australian dollar may have given its shares a boost. A weaker currency could give its wine exports a lift.
