Investing.com - Sonae reported on Wednesday second quarter earnings that matched analysts' forecasts and revenue that fell short of expectations.
Sonae announced earnings per share of €0.02 on revenue of €1.57B. Analysts polled by Investing.com anticipated EPS of €0.02 on revenue of €1.6B.
Sonae shares are down 32% from the beginning of the year, still down 35.65% from its 52 week high of €0.96 set on December 13, 2019. They are under-performing the PSI 20 which is down 15.44% from the start of the year.
Sonae follows other major Services sector earnings this month
Sonae's report follows an earnings beat by CTT Correios de Portugal SA on August 5, who reported EPS of €-0.04 on revenue of €169.3M, compared to forecasts EPS of €-0.05 on revenue of €161M.
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