SEEK (ASX:SEK) fiscal first-half earnings may be considered messy, as the change in accounting policy for total expenditure could potentially have a negative impact on profit and loss, according to a Tuesday note by Jarden Research.

The company reported Tuesday that its earnings per diluted share in the fiscal first half rose to AU$0.40, from AU$0.083 per diluted share a year earlier.

Revenue for the six months ended Dec. 31, 2024, was AU$536.2 million, in line with Jarden's estimates but down 4% from AU$558 million in the same period last year.

Due to the change in the company's accounting methods, SEEK's earnings before interest, taxes, depreciation, and amortization (EBITDA) were 1.6% lower than Jarden's estimates.

However, EBITDA less capital expenditure was AU$163 million, 7% above Jarden's estimates.

Jarden Research has a buy rating on SEEK with a price target of AU$28.

Shares of the company rose 6% at market close.