Results may vary
Overall, corporate Australia scored a passing grade this earnings season, but it faces a tougher test over the next 12 months.
Another August corporate reporting season is in the books, and if there was one result that stood out, it was Cettire's — and not just because of the dismal numbers.
There was plenty of focus on the online luxury goods retailer heading into Thursday morning’s earnings, at least in fast money circles. After all, the stock has become one of the biggest long vs short battles on the ASX this year.
But as Jack Derwin reported, with just a few minutes to go before its scheduled 8:30am (AEST) investor Zoom call, the results had still not yet dropped on the exchange.
The call was hastily reconvened for 10:30am, and the numbers were finally published, only on an unaudited basis with Grant Thornton pushing back on how the company accounts for its revenue. As Jack noted, the call itself was almost as weird as what preceded it, with the cameras kept off and a hot mic capturing one analyst’s audible frustration with the response to his question.
