At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) is on course to record another decline. The benchmark index is currently down 0.7% to 7,370.9 points.
Here’s what is happening on the ASX 200 today:
Xero’s half year results disappoint
The Xero Limited (ASX: XRO) share price is trading lower today after the release of its half year results. For the six months ended 30 September, Xero reported a 23% increase in operating revenue to NZ$505.7 million but a 19% decline in EBITDA to NZ$98.1 million. And while its top line growth was strong, it is tracking below the market’s full year growth rate expectations. Goldman Sachs, for example, is expecting the cloud accounting platform provider to deliver revenue growth of 33% in FY 2022.
Nearmap guidance update
The Nearmap Ltd (ASX: NEA) share price is sinking today after releasing its guidance for FY 2022. The aerial imagery and location data company revealed that it expects annual contract value (ACV) of between $150 million and $160 million on a constant currency basis in FY 2022. This will be up 12% to 19% year on year, which is short of its medium to long term target of ACV growth of 20% and 40%.
Ramsay’s shares fall following update
The Ramsay Health Care Limited (ASX: RHC) share price is under pressure today after the release of a trading update. The private hospital operator revealed a 1.3% increase in unaudited first quarter revenue to $3.2 billion. However, on the bottom line, the company recorded an unaudited quarterly profit after tax of $58.1 million. This is down 39.5% on the prior corresponding period.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Thursday has been the Fortescue Metals Group Limited (ASX: FMG) share price with a 6.5% gain. This is despite iron ore prices falling again overnight. The worst performer on the index has been the Nearmap share price with a 7% decline following its guidance update.