3 ASX 300 shares that made big moves on earnings updates

These ASX shares were on the move today after some interesting earnings reports.

Sebastian Bowen

Author Bio Sebastian Bowen has been a Motley Fool contributor since late 2018. Sebastian found his passion for writing and educating others about shares and all things finance after completing his studies in political, economic and social science and enjoys bringing this passion to life at the Fool. His investment philosophy is a simple one – buying high-quality companies at prices that make sense. When he’s not researching his next investment at all hours of the morning, Sebastian enjoys classic movies and likes to unwind with a good book, newspaper or record. Areas of Expertise Dividend investing ETFs Education Bachelor of Political, Economic, and Social Sciences (Government and International Relations), University of Sydney Social Media X/Twitter Favorite Investment Quote "In the short run, the market is a voting machine, but in the long run, it is a weighing machine." – Benjamin Graham

Published February 20, 2023 5:02 pm AEDT

It's was a pretty shaky start to the week for the S&P/ASX 300 Index (ASX :XKO) and ASX shares this Monday. The ASX 300 Index added just under 0.05% to its value by market close but jumped between gains and losses all day.

But just because the index had a case of Monday jitters doesn't mean all ASX 200 or ASX 300 shares were anaemic. So let's discuss three ASX shares that moved in a big way on their latest earnings reports this Monday.

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Three ASX 300 shares bucking the market on Monday

oOh!Media Ltd (ASX: OML)

ASX 300 outdoor advertising share oOh!Media is the first company worth a look at today. We got a look at oOh!Media's full-year results for 2022 this morning, and investors were clearly impressed with what was on display. The oOh!Media share price gained a healthy 4.05% today to close at $1.54 a share.

Revenues rose 18% to $592.6 million, while adjusted underlying earnings before interest, tax, depreciation and amortisation (EBITDA) was up 64% to $127.1 million. Adjusted net profit before tax (NPAT) spiked an impressive 343% to $56.2 million. This all helped the company raise its final dividend by 200% to 3 cents per share.

GPT Group (ASX: GPT)

ASX 200 real estate investment trust (REIT) GPT Group is next up this Monday.

GPT also reported its full-year results for 2022 this morning. Funds from operations rose 11.9% to $620.6 million, while free cash flow was up 6.7% to $499 million.

However, thanks to "negative revaluation movements", statutory net profit after tax fell from $1.42 billion to $469.3 million. That didn't stop GPT from raising its final distribution though, which has risen 7.8% to 25 cents per unit.

GPT units initially responded well this morning to these earnings, rising as high as $4.68. But investors cooled their heels, and the REIT was back down to close at $4.57, down 1.72% for the day.

EVT Ltd (ASX: EVT)

Finally today, let's discuss ASX 200 entertainment company EVT. It was EVT's turn to present its own half-year results this morning, covering the six months to 31 December 2022.

In this case, it was green numbers across the board. EVT reported a 58.9% surge in revenues to $607 million for the half-year, while EBITDA rose a whopping 1,266.4% to $30.9 million. Meanwhile, reported net profits came in at $96.74 million, up from $63.4 million on the prior year.

But clearly, investors had been hoping for more. The EVT share price closed down 1.2% today at $14.02 a share. That's despite spiking to $14.94 early this morning.

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