Earnings season is now well underway and a large number of results hit the wires last week.
Three ASX shares that delivered surprise results are named below. Here's what they reported:
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Cettire Ltd (ASX: CTT)
This ASX share raced higher last week after reporting very impressive growth for FY 2023.
Cettire posted an 87% jump in gross revenue to $539.2 million and a net profit after tax of $15.97 million. The latter compares to a loss a year earlier by the online luxury products retailer.
Also getting investors excited was news that FY 2024 has started strongly. During the month of July, Cettire delivered positive adjusted EBITDA and sales revenue growth of approximately 120% over the prior corresponding period.
CSL Limited (ASX: CSL)
Investors were bidding this biotherapeutics giant's shares higher last week after it delivered a profit ahead of guidance in FY 2023.
CSL posted a 20% constant currency increase in net profit after tax before amortisation (NPATA) to US$2.86 billion. This compares to its guidance of US$2.7 billion to US$2.8 billion for the 12 months.
This was supported by a 30% increase in constant currency revenue to US$13.3 billion thanks to growth across all units and an 11-month contribution from the new CSL Vifor business.
Looking ahead, management reaffirmed that "NPATA for FY24 is anticipated to be in the range of approximately $2.9 billion to $3.0 billion at constant currency, representing growth over FY23 of approximately 13-17%."
Life360 Inc (ASX: 360)
Another result that caught the eye last week was from location technology company, Life360.
Its shares were up almost 20% after reporting a 45% increase in second-quarter revenue to US$70.8 million and positive adjusted EBITDA of US$5.7 million. The latter was the second consecutive quarter of positive EBITDA.
But the even better news was that management has upgraded its guidance to positive adjusted EBITDA of US$9 million to US$14 million for calendar year 2023. This is up from US$5 million to US$10 million previously.
