SEEK stocks are getting destroyed after half year results fail to impress

SEEK co-founder Andrew Bassat

Seek shares are getting hammered on the Australian market after its half year results failed to impress.

SEEK posted a record $395.3 million, up 17%, in revenue for the half year to December. Net profit was up 64% to $182.8 million.

However, when an accounting gain from an acquisition is removed, net profit after tax was just $94.1 million. Analysts had been expecting a result of around $99 million.

Its shares were down more than 9% a short time ago to $16.99.

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