Australia's Macquarie says Q1 operating performance flat, shares slide

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.