Seek’s 1H Result Slightly Better than We Expected. FVE Increased to AUD 19.00.
Narrow-moat Seek reported a slightly stronger first-half result than we expected, with revenue up 19% versus our previous full-year growth forecast of 16%. Management maintained full-year revenue growth guidance of 16% to 20%, versus our revised forecast of 21%, and EBITDA growth guidance of 5% to 8%, versus our 4.4% forecast. Management also increased their estimate of the cost of investments in early stage ventures in fiscal 2019 to between AUD 40 and AUD 45 million from AUD 35 to AUD 40 milli...Seek is engaged in the online matching of hirers and candidates with career opportunities and related services; investing in early stage businesses and technologies which are in or adjacent to the main online employment marketplace; and distribution and provision of vocational training and higher education courses. Co.'s ANZ Employment, Zhaopin, SEEK Asia, Brasil Online and OCC segments provides online employment and marketplace services. Co.'s Education segment includes the marketing, sale and distribution of education courses. Co. also has an Early Stage Ventures segment consisting of a portfolio of Australian and international investments.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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