Megaport (ASX:MP1) revenue jumps 40% in FY22; shares surge

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Megaport (ASX:MP1) revenue jumps 40% in FY22; shares surge

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 Megaport (ASX:MP1) revenue jumps 40% in FY22; shares surge
Image source: © Lovelyday12 | Megapixl.com

Highlights: 

  • Megaport released its FY22 results today, featuring a 43% gain in its annualised revenue for the month of June.
  • Megaport’s loss from ordinary activities after tax attributable to members also came down by 12% in the given period.  
  • Buoyed by this update, Megaport’s share price gained over 8% at 11:48 AM AEST on the ASX today. 

Australian information technology firm Megaport Limited (ASX:MP1) came up with its full-year FY22 financial results on the ASX today. The company reported a gain in revenue and a decrease in the loss in its FY22 results compared to the previous corresponding period (FY21). 

Meanwhile, shares of Megaport Limited (ASX:MP1) were spotted buzzing in the green zone today. The share price of Megaport was 8.435% up at AU$8.870 per share at 11:48 AM AEST on the ASX today (9 August). 

Details of Megaport’s FY22 results: 

Megaport reported a 40% gain in its revenue from ordinary activities in FY22. From AU$78,281 in FY22, the company’s revenue from ordinary activities touched AU$109,731 in FY22. 

Moreover, the company’s annualised revenue gained by 43% in FY22 to AU$128.3 million compared to AU$89.8 million in FY21.

Megaport’s loss from ordinary activities after tax attributable to members came down to AU$48,495 in FY22 from AU$55,000 in FY21. As a result, the company’s loss from ordinary activities after tax attributable to members came down by 12% in the given period.

Furthermore, the company’s net loss for the year attributable to members also touched AU$48,495 in FY22 compared to AU$55,000 in the previous corresponding period (FY21), representing a 12% fall.

In the given financial year (FY22), Megaport gained 16% of total new customers. From 2285 new customers in FY21, Megaport’s number of new customers touched 2643 by the end of FY22.  

However, the IT firm did not announce any dividend to be paid to its shareholders for FY22.

Megaport’s share price performance on the ASX: 

Within the period of the last 12 months, Megaport’s share price has significantly fallen by 48.88% on the ASX. On the other hand, Megaport’s year-to-date share price fell by around 54%. On the contrary, Megaport’s share price surged by 38.53% on the ASX in the last one month (as of 11:12 AM AEST on the ASX today).

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