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Spark valuation down more than $1 billion on shock results

The market punished the telco after it posted a 78% collapse in net profit for the first six months and downgraded its guidance.

Key points
  • Revenue: down 1.9% to $1.94 billion, from $1.98b
  • Profit: net earnings of $35 million, down from $157m
  • Main takeaway: Telco hit by mobile price competition with spending cuts also affecting enterprise and government business.

Spark shares moved into freefall on Friday, dropping by more than a fifth to as low as $2.30 by early afternoon trade, before recovering to $2.37, still more than $1 billion down by market capitalisation from $5.4 billion to $4.37b.

Announcing its half-year results to December, the country's largest

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Brent Melville Fri, 21 Feb 2025
Contact the Writer: bmelville@nbr.co.nz
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Key points
  • Revenue: down 1.9% to $1.94 billion, from $1.98b
  • Profit: net earnings of $35 million, down from $157m
  • Main takeaway: Telco hit by mobile price competition with spending cuts also affecting enterprise and government business.
Company profile
Powered by: nzx logo
Change:
Price
Previous Close
Turnover
Movement
Volume
Avg Daily Volume
Daily High
Daily Low
52 Week High
52 Week Low
Spark valuation down more than $1 billion on shock results
Investment,
107944
true