The tech sector reasserted its reputation as the sweet spot for growth investors this earnings season as soaring profits from software businesses across the sharemarket helped them race to record highs and extend already inflated valuations.
Logistics and cargo software business WiseTech has added 27.5 per cent or $5.3 billion to its valuation since August 21, when it revealed 24 per cent profit growth in financial 2024, with a forecast for revenue to grow 25 to 30 per cent to $1.3 billion in financial 2025.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
