Hemnet Group Second Quarter 2024 Earnings: Beats Expectations

Hemnet Group (STO:HEM) Second Quarter 2024 Results

Key Financial Results

• Revenue: kr405.0m (up 51% from 2Q 2023).
• Net income: kr148.7m (up 62% from 2Q 2023).
• Profit margin: 37% (up from 34% in 2Q 2023). The increase in margin was driven by higher revenue.
• EPS: kr1.55 (up from kr0.94 in 2Q 2023).

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

Hemnet Group Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 8.1%. Earnings per share (EPS) also surpassed analyst estimates by 4.5%.

Looking ahead, revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Interactive Media and Services industry in Sweden.

Performance of the Swedish Interactive Media and Services industry.

The company's shares are up 11% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 1 warning sign for Hemnet Group you should know about.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com