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ASX Live Coverage Summary – July 30
Welcome to our live coverage of the Australian Securities Exchange (ASX) for Wednesday, July 30. We are keen to provide real-time updates, especially in the lead-up to today’s market close at 3:00 pm AEST. Please refresh this page for the latest information.
Polynovo Releases Unaudited FY25 Results
Time: 8:53 am
Polynovo has released its preliminary results for FY25 following market closure on Tuesday. Here are the primary highlights:
- Total Sales: Increased by 28.9% to $118.6 million.
- Sales Breakdown:
- US Sales: Grew by 28.7% to $88.4 million.
- Rest of World Sales: Rose by 29.5% to $30.3 million.
- EBITDA Guidance: Projected between $11.2 million and $12.4 million, aligning with the market consensus of $11.8 million.
- Cash Position: Improved to $33.5 million from $22 million in March, after capital expenditure and debt repayments.
- Future Outlook: Expected growth in cash flow from operations as profitability continues on the rise across regions like Australia, New Zealand, the UK, and the US.
Earnings Updates from Wall Street
Time: 8:45 am
It’s a significant day for corporate earnings ahead of critical announcements from Microsoft and Meta, followed by Amazon and Apple in the coming days. Notable earnings reported include:
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United Parcel Service (UPS):
- Performance: Shares fell by 10.5%.
- Q2 2025 Net Income: $1.28 billion, resulting in earnings per share (EPS) of $1.51. Adjusted EPS was $1.55, which fell short of Wall Street estimates of $1.56.
- CEO Comments: Concerns regarding trade policies impacting operations.
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Spotify:
- Performance: Stock down by 11.5%.
- Q2 2025 Adjusted Earnings: Reported a loss of €0.42 ($0.49) per share, missing forecasts for a profit of €1.97, compared to earnings of €1.33 in Q2 2024.
- Key Issues: Currency fluctuations severely impacted revenue, despite solid performance in subscriptions.
- Procter & Gamble (P&G):
- Performance: Slight decrease of 0.3%.
- Q4 Results: Net income of $3.62 billion ($1.48 per share), with revenues climbing 2% to $20.89 billion, surpassing expectations.
- Future Guidance: A projected $1 billion decline in profits due to tariffs affecting the upcoming fiscal year.
Market Overview
Time: 8:37 am
ASX 200 futures are currently down by 7 points (-0.08%) following a cooling market in the United States, where the S&P 500 ended a six-day winning streak. For those who are new to this market summary, you may want to start with today’s Morning Wrap to get up to speed.
This live coverage encapsulates significant activity in both the ASX and global markets, focusing on the operational performance and challenges faced by key companies. Keep following for more updates throughout the trading day.
