TOP Australian investment bank Macquarie Group said on Thursday its first-quarter operating group contribution was broadly in line with last year, disappointing investors who sent its shares down as much as 3.9 percent.
"The market has a fiscal 2025 net profit after tax forecast of A$4.11 billion ($2.70 billion) for Macquarie, which is up 17 percent from previous corresponding period, so arguably the first quarter result is a bit weak versus expectations," Morgans analyst Richard Coles wrote in a note.
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