In today’s briefing:
- Shift 3Q: Earnings Below Consensus but Heavy Hiring Spend Should Help in the Long Run
Shift 3Q: Earnings Below Consensus but Heavy Hiring Spend Should Help in the Long Run
- Shift reported 3QFY08/2022 results yesterday. Revenue grew 36.1% YoY to JPY17.1bn (vs consensus JPY18.3bn) while OP grew 25.7% to JPY1.3bn (vs consensus JPY1.54bn).
- Revenue from the largest segment Enterprise market grew 35.3% while enterprise segment grew 47.5% YoY during the quarter.
- According to Shift, the application of revenue recognition standard has lowered revenues and OP. The drop in OPM was due to heavy SG&A expenses as a result of hiring.
Before it’s here, it’s on Smartkarma
