The S&P/ASX 200 Index (ASX: XJO) is back on form and charging higher on Tuesday. In afternoon trade, the benchmark index is up 0.5% to 7,314.6 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are racing higher:
Cochlear Limited (ASX: COH)
The Cochlear share price is up 6% to $247.28. This follows the release of the hearing solutions company's FY 2023 results. Cochlear reported a 19% increase in sales revenue to $1,956 million and a 10% lift in underlying net profit to $305 million. The latter was at the top end of its guidance range for FY 2023.
CSL Limited (ASX: CSL)
The CSL share price is up 4.5% to $274.64. Investors have been buying this biotherapeutics company's shares after it released its full-year results and delivered a profit ahead of guidance. CSL reported net profit after tax before amortisation (NPATA) growth of 20% in constant currency to US$2.86 billion. This was ahead of its guidance range of US$2.7 billion to US$2.8 billion.
Life360 Inc (ASX: 360)
The Life360 share price is up over 12% to $9.03. This morning, this location technology company released its second-quarter update and revealed more strong top-line growth. Life360 also delivered its second consecutive quarter of positive adjusted EBITDA and upgraded its earnings guidance for calendar year 2023.
Pro Medicus Limited (ASX: PME)
The Pro Medicus share price is up 6% to $73.89. This follows the release of the health imaging technology company's FY 2023 results. Pro Medicus reported a 33.6% increase in revenue to $124.9 million and a 36.5% jump in net profit after tax to $60.5 million. This was driven largely by strong growth in the North American business.
