2343 GMT - Cochlear's lower-than-expected December-half services revenue represents a jarring miss for Wilsons analyst Shane Storey. The hearing-implant maker's services revenue was 14% lower than Storey had expected. His concern is that it comes just halfway through the likely product cycle of Cochlear's latest processor. Cochlear's services revenue jumped 29% in the year-earlier period, making on-year comparisons more challenging, but uptake of the N8 processor has slowed more quickly than anticipated, he says in a note. Wilsons is reviewing its overweight rating and A$345.00 target price on the stock. Shares are down 11% at A$272.34. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 13, 2025 18:43 ET (23:43 GMT)
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