Home Search Watchlist Advertise Feedback Profile



Why did Iress Ltd (ASX: IRE) share price plummet by 15%? — ASX:IRE| ASX Mining News & Discussion
L
Lykeshares Official
$IRE Why did Iress Ltd (ASX: IRE) share price plummet by 15%?
Iress Ltd (ASX: IRE), a technology company that provides software for financial services firms, experienced a significant drop in its share price by 15.21% to $8.92. The sharp decline follows the recent announcement by the company that it was downgrading its profit forecast.

Delayed sales conversion and unfavourable currency exchange to blame

Iress cites challenging market conditions as the reason behind the timing delays in the conversion of new sales opportunities. Additionally, unfavourable currency exchange movements and US dollar pricing have contributed to higher-than-anticipated supplier costs.

Revised profit forecast

As a result of these challenges, the company now projects full-year segment profit for 2022 to be in the range of $166 million and $170 million, on a constant currency basis. This new projection is a significant downgrade from the company’s previous guidance in August, in which it had forecasted segment profit to be at the bottom range of $177 million and $183 million.

Impact on ...
Why did Iress Ltd (ASX: IRE) share price plummet by 15%?

L
Lykeshares Official
Berkshire is hoarding so. much. cash.
Berkshire is hoarding so. much. cash.
L
Lykeshares Official
Intel’s been lagging behind for years, while AMD has pulled far ahead in both consumer and professional-grade chips, it’s really not a close race anymore.

There’s this idea floating around that throwing enough cash at Intel will suddenly turn them into the next TSMC. But semiconductor manufacturing isn’t something you can ...
Intel’s been lagging behind for years, while AMD has pulled far ahead in both consumer and professional-grade chips, it’s really not a close race anymore. There’s this idea floating around that throwing enough cash at Intel will suddenly turn them into the next TSMC. But semiconductor manufacturing isn’t something you can rush, it’s a complex, slow-moving process that takes years of precision and experience. Intel could recover some ground eventually, but framing them as the savior of American chipmaking feels more like a political talking point than a practical reality.
L
Lykeshares Official
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
L
Lykeshares Official
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
L
Lykeshares Official
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
L
Lykeshares Official
🔺 Student Loan Delinquencies Hit Record 12.9%...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
🔺 Student Loan Delinquencies Hit Record 12.9%... The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
L
Lykeshares Official
$ASN Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?
Is Anson Resources’ US$330M Financing Deal the Key to Unlocking Utah’s Lithium Potential?