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Highlights
- Seek lifts FY25 outlook toward upper guidance range
- Job ad volume stabilisation signals positive momentum
- Stock reacts with over 7% gain amid investor update
Seek (ASX:SEK), the leading online job classifieds company in Australia, delivered a strong update during its investor day presentation, sparking renewed interest in the broader employment and tech sector. The company revealed that both its revenue and profit forecasts for FY25 are likely to land in the upper half of its previous guidance range — an announcement that sent its stock price up more than 7% by mid-morning.
The market responded positively as Seek (ASX:SEK) now expects its revenue for the financial year to reach the higher end of its $1.06 billion to $1.1 billion forecast. Furthermore, its adjusted profit outlook remains strong, leaning towards the top of its $135 million to $160 million range. Operating expenditure is forecast to remain within previously outlined levels of $750 million to $770 million, indicating disciplined financial management.
This guidance uplift reflects stabilisation in job ad volumes, which have shown signs of recovery in recent months. In April, Seek reported a 1.8% month-on-month increase in job ads, with the annual decline in listings slowing to its lowest rate since December 2022. This trend may reflect a broader shift in the labour market, potentially easing some of the hiring softness observed in previous quarters.
Seek’s improved performance could also spark broader interest in the ASX200 index, as investors continue to monitor top-performing sectors within Australia's benchmark equity index.
With stability in its core Australian business and steady operating expenditure, Seek's outlook offers a glimpse into how digital employment platforms may navigate uncertain economic conditions. For those keeping an eye on income-generating opportunities, this update could also place Seek in conversations surrounding ASX dividend stocks, especially as tech-adjacent companies increasingly explore capital return options.
As of 11:22 am AEST on the day of the announcement, Seek’s shares were trading at $23.78, reflecting a 7.36% intraday gain. The announcement reinforces the company’s confidence in its long-term strategy and may serve as a bellwether for investor sentiment across the tech and employment sectors within the ASX200 landscape.
