CORRECTED-BUZZ-Australia's Cochlear slumps as HY results, forecast disappoint

Reuters
02-14
CORRECTED-BUZZ-Australia's Cochlear slumps as HY results, forecast disappoint

Corrects 4th bullet to reflect forecast was for services revenue not sales revenue

** Shares of Cochlear COH.AX fall 11% to A$271.03, set for their worst day since March 2020, if losses hold

** Hearing implants maker reports HY underlying NPAT of A$206 million ($206.00 million), missing Visible Alpha consensus of A$209.3 million

** Expects FY underlying net profit to be at lower end of A$410 million to A$430 million forecast range

** Expects single-digit decline in FY services revenue

** COH stock among the worst performers on ASX 200 benchmark index .AXJO

** COH, one of the priciest stocks of the country, down ~6% YTD, including day's moves

($1 = $1.0000)

(Reporting by Himanshi Akhand in Bengaluru)

((Himanshi.Akhand@thomsonreuters.com))

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