Seek has reported first-half results that align with market expectations. According to UBS analyst Lucy Huang, the company’s adjusted net profit of $104 million matched consensus estimates. Net revenue saw a 12 per cent increase, reaching $601 million, primarily driven by growth in Australia and New Zealand.
The company reported that ANZ revenue rose 14 per cent, due to yield gains of 17 per cent, despite a volume decrease of 2 per cent. Asian revenue also experienced growth, rising 4 per cent, where 17 per cent yield gains were able to offset a 14 per cent drop in volumes. Seek is a job marketplace that connects job seekers with employment opportunities and helps businesses find talent. The company operates across the Asia-Pacific region.
EBITDA reached $267 million, slightly below UBS’s projections. In light of the results, Seek has tightened its full-year 2026 guidance to the upper end of its previously announced range. This adjustment reflects the company’s strong yield performance. However, Seek has flagged potential downside risks stemming from weaker volume growth in the coming periods.
Furthermore, Seek announced its intention to divest its stake in Employment Hero. This decision is part of the company’s ongoing strategy to optimise its portfolio and focus on its core operations within the employment marketplace sector. Huang noted the results were a good set of in-line results, with yields delivering, but flagged the potential for volume downside risk.
