Seek surges on strong revenue and profit expectations

The news: Shares in Seek jumped after the online jobs platform announced that FY25 revenue and profit are likely to be in the top half of guidance ranges.

The numbers: In an investor day update, Seek said its expects revenue for the current financial year to be at the upper end of its $1.06 billion to $1.1 billion guidance, and adjusted profit is also likely to be within the top half of its $135 million to $160 million guidance.

Meanwhile, total expenditure will be in line with prior expectations, with guidance of $750 million to $770 million unchanged, it said.

Seek shares were trading 7.36% higher at $23.78 at 11.22am AEST.

The context: Seek told investors that the decline in job ad volumes had stabilised in recent months. In its April employment data report, it noted that volumes rose 1.8% month on month, with the annual rate of decline slowing to its lowest point since December 2022.