Why it matters: Seek is Australia’s largest online jobs classifieds business.
What happened: Job ads fell sharply in November and December, forcing Seek to lower its full year revenue and profit guidance.
Seek declared a dividend of 19¢ per share, down 21 per cent from the corresponding period.
Shares in Seek fell 10 per cent after the online job site cut its dividend and lowered its full-year revenue and profit guidance after job ads fell from their pandemic highs.
The company’s results for the first half of the fiscal year missed analysts’ expectations after paid job advertisements declined 20 per cent in Australia and New Zealand, and 26 per cent in Asia.
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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
