NewsBite

Redbubble shares soar 30pc after profit update

Tess Bennett
Tess BennettTechnology reporter
Updated

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Online marketplace Redbubble will focus on reversing its declining revenue ahead of the peak retail season, after the company returned to positive underlying cash flow last quarter, pushing its shares 30 per cent higher in Thursday’s trading.

Shares in the embattled retailer rallied to close at 60¢ after opening at 46¢. Redbubble’s quarterly trading update showed it achieved underlying cash flow of $700,000, swinging from a loss of $16.2 million in the prior corresponding period.

Loading...
Tess Bennett is a technology reporter with The Australian Financial Review, based in the Brisbane newsroom. She was previously the work & careers reporter. Connect with Tess on Twitter. Email Tess at tess.bennett@afr.com

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Read More

Latest In Technology

Fetching latest articles

Most Viewed In Technology

    Original URL: https://www.afr.com/technology/redbubble-shares-soar-30pc-after-profit-update-20231012-p5ebrf