AMP First Half 2024 Earnings: EPS Beats Expectations

AMP (ASX:AMP) First Half 2024 Results

Key Financial Results

• Revenue: AU$1.71b (up 7.3% from 1H 2023).
• Net income: AU$103.0m (up 98% from 1H 2023).
• Profit margin: 6.0% (up from 3.3% in 1H 2023).
• EPS: AU$0.038 (up from AU$0.018 in 1H 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

AMP EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 36%.

Looking ahead, revenue is expected to fall by 19% p.a. on average during the next 3 years compared to a 6.7% decline forecast for the Diversified Financial industry in Australia.

Performance of the Australian Diversified Financial industry.

The company's shares are up 19% from a week ago.

Risk Analysis

It is worth noting though that we have found 3 warning signs for AMP (1 shouldn't be ignored!) that you need to take into consideration.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.