In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a small decline. At the time of writing, the benchmark index is down 0.2% to 7,629.5 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
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Audinate Group Ltd (ASX: AD8)
The Audinate share price is up 20% to $19.20. This morning, this media networking solutions provider released its half year results and reported record revenue and EBITDA. Revenue was up 47.7% to US$30.4 million (A$46.6 million) and EBITDA jumped 137% to A$10.1 million. The company's key Chips, Cards and Modules (CCM) business reported a 45.6% increase in revenue to US$22.7 million.
Beach Energy Ltd (ASX: BPT)
The Beach Energy share price is up 4.5% to $1.73. Investors have been buying the energy producer's shares after it posted a 16% increase in revenue to $941 million for the first half. And while its underlying EBITDA fell 1% to $488 million, this appears to have still been better than expected.
Calix Ltd (ASX: CXL)
The Calix share price is up 6.5% to $2.26. This morning, this environmental technology company announced the completion of a Front-End Engineering and Design (FFED) study for a 30,000 tonne per annum Zero Emissions Steel Technology (ZESTY) Hydrogen Direct Reduced Iron (H-DRI) demonstration plant. The study was supported with funding from the Australian Renewable Energy Agency.
JB Hi-Fi Limited (ASX: JBH)
The JB Hi-Fi share price is up almost 7% to $60.41. This follows the release of the retailer's half year results this morning. JB Hi-Fi's total sales were down 2.3% to $5.16 billion and its earnings before interest and tax (EBIT) were down 20% to $386.7 million. However, the market was expecting EBIT of $358.2 million, which means the company smashed expectations.
