Macquarie Shares Plunge After Disappointing Half-Year Result
Macquarie Group faced its sharpest intraday share decline since April after releasing half-year financial results that did not meet analyst forecasts. The setback was largely driven by underperformance in its commodities division.
By midday, Macquarie shares had fallen 6.7% to $202.56, just above the session’s low of $202.37. This marks the steepest drop since April 4, when shares sank 9% amid broad equity market volatility following tariff-related announcements.
Results and Market Reactions
Despite the market reaction, the group posted a net profit of nearly $1.7 billion, supported by performance fees in its asset management unit. Still, this outcome fell short of analyst expectations, which had projected first-half earnings of $1.86 billion and an interim dividend of $3.09 per share.
“The reported result was 10.4 per cent below consensus estimates,” said UBS analyst John Storey, noting that earnings per share of $4.37 missed expectations by 10.9 per cent.
About Macquarie
Macquarie is a diversified financial institution offering asset management, finance, banking, advisory, and risk and capital solutions across global markets. The company maintains strong operational foundations in Australia while operating internationally.
Author’s Summary
Macquarie’s weaker commodity earnings triggered its steepest share drop in months, as half-year profits missed expectations despite strong asset management performance.