The S&P/ASX 200 Index (ASX: XJO) is having a strong finish to the week. In afternoon trade, the benchmark index is up 1.3% to 7,782.9 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
GenusPlus Group Ltd (ASX: GNP)
The GenusPlus share price is up 7% to $2.34. This follows a contract update from the national essential power and communications infrastructure provider. According to the release, its Genus-PFA business has been awarded several critical contracts with major utility providers across Australia's East Coast. GenusPlus' managing director, David Riches, commented: "We are delighted to use our depth and breadth of capability in helping to maintain strong and reliable electricity infrastructure for these major utilities and their customers."
Life360 Inc (ASX: 360)
The Life360 share price is up 17.5% to $17.47. Investors have been scrambling to buy this location technology company's shares following the release of its second quarter update. Life360 reported a 20% increase in revenue to a record of US$84.9 million and positive adjusted EBITDA of US$11 million. In light of this strong performance, management has upgraded its guidance for FY 2024. It now expects consolidated revenue of US$370 million to US$378 million (upgraded from US$365 million to US$370 million) and positive adjusted EBITDA of US$36 million to US$41 million (from US$30 million to US$35 million).
News Corporation (ASX: NWS)
The News Corporation share price is up 7.5% to $44.55. This follows the release of the media giant's full year results. News Corporation reported a 2% increase in revenue to US$9.88 billion and an 89% increase in net income to US$354 million. In other news, the company revealed that it is looking to offload its 65% stake in Australian pay TV platform Foxtel. This was in response "to third party interest" for the business.
REA Group Ltd (ASX: REA)
The REA Group share price is up 6.5% to $201.99. Investors have been buying the property listings company's shares following the release of its FY 2024 results. The realestate.com.au operator posted a 23% increase in revenue to $1.45 billion and a 27% lift in EBITDA to $825 million. This was ahead of the consensus estimate of $1,443 million and $813 million, respectively. This allowed REA Group to increase its fully franked dividend by 20% to $1.89 per share for FY 2024. CEO Owen Wilson commented: "In a strong market, particularly in Melbourne and Sydney, customers increasingly preferenced our premium products to leverage the strength of our audience and maximise their campaigns."
