Spark downgrade ‘dents’ investor confidence: analyst

The hit to full-year expectations raises questions about how much growth IT services can deliver for the telco. (Image: NZME)

Ben Moore

Mon, 06 May 2024

Spark has downgraded its guidance for the 12 months to the end of June 2024, with results potentially lower than the prior financial year.An announcement to the New Zealand stock exchange (NZX) on Monday morning stated that the telco would be reducing its earnings before investment, taxes, depreciation, amortisation and interest (Ebitdai) down from between $1,215 million and $1,260m to $1,170m-$1,210m.This reduction puts the midpoint of Spark’s full-year guidance at $1,190m, below the company's $1,193m adjusted Ebitdai for the 2023 fi...

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