AMP (ASX:AMP) Full Year 2024 Results
Key Financial Results
- Revenue: AU$2.85b (up 4.3% from FY 2023).
- Net income: AU$180.0m (up 44% from FY 2023).
- Profit margin: 6.3% (up from 4.6% in FY 2023). The increase in margin was driven by higher revenue.
- EPS: AU$0.069 (up from AU$0.044 in FY 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
AMP Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 18%.
The primary driver behind last 12 months revenue was the Unallocated Interest Expense Related to AMP Bank segment contributing a total revenue of AU$1.35b (47% of total revenue). The most substantial expense, totaling AU$1.67b were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how AMP's revenue and expenses shape its earnings.
Looking ahead, revenue is expected to fall by 20% p.a. on average during the next 3 years compared to a 5.7% decline forecast for the Diversified Financial industry in Australia.
Performance of the Australian Diversified Financial industry.
The company's shares are down 14% from a week ago.
Risk Analysis
Before we wrap up, we've discovered 1 warning sign for AMP that you should be aware of.
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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.
About ASX:AMP
AMP
Provides banking, super, retirement, and advice services in Australia and New Zealand.
Proven track record and slightly overvalued.
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