The ASX 200
(INDEXASX: XJO)(^AXJO) is expected to open lower today, the USA’s S&P 500 Index (.INX) fell by 0.36% on Tuesday.
Australian Dollar ($A) (AUDUSD): 68.53US cents
Dow Jones (DJI): down 0.15%
Oil (WTI): $US54.16 per barrel
Gold: $US1,488 per ounce
ASX Sharemarket News
In ASX sharemarket news, Redbubble (ASX: RBL) has released a first quarter trading update for September 2019.
The artist products business reported that marketplace revenue grew by 43% to $70 million, gross profit increased by 48% to $27 million, the gross profit margin increased by 1.5% to 37.9% and an EBITDA profit (click here to learn what EBITDA means) of $2.2 million was achieved (up from a loss of $1.8 million).
Perhaps most importantly, the company said it achieved free cash flow of $7.8 million for the quarter, with a closing cash balance of $37.9 million.
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Kogan.Com (ASX: KGN) has also released a first quarter update for September 2019. The online company said gross sales increased by 16% on last year, gross profit increased by 28% and operating costs increased by less than 3% compared to last year. The result was driven by ‘Exclusive Brands’ revenue increasing by 35%.
Kogan Mobile NZ, Kogan Money Credit Cards, Kogan Money Super and Kogan Energy all launched ahead of schedule.
Kogan also announced that a new agreement with Corporate Travel Management (ASX: CTD) regarding travel services was done.
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WiseTech Global (ASX: WTC) has released its defence against the second short attack report by J Capital Research.
The tech company defended its business again, refuted all of the claims and confirmed that FY20 revenue is expected to come in at $440 million to $460 million and EBITDA is expected to be between $145 million to $153 million.
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