It’s been a day of overall happiness on the ASX boards this Wednesday thus far. At the time of writing, the S&P/ASX 200 Index (ASX: XJO) has gained a healthy 0.7% and is back over the 9,000 point threshold. But some ASX 200 tech shares are doing even better than that.
Take the WiseTech Global Ltd (ASX: WTC) share price. It’s currently up a whopping 11.68% at $59.19 a share. As we went through earlier today, these gains seem to be a direct result of the pleasing earnings report for FY2022 that WiseTech dropped this morning.
Not only did the logistic company report a 25% surge in revenues and an 80% rise in net profits, but the company hiked its final dividend to a record high of 6.4 cents per share.
So it’s not hard to see why WiseTech shares are on fire today. But this company isn’t the only one tearing it up.
More ASX 200 tech shares on fire today
Altium Limited (ASX: ALU) shares are also doing well, although not quite as well as WiseTech. The ASX 200 tech share and software-as-a-service (SaaS) company has put on a robust 2.29% so far today to $36.66 a share.
That’s after rising as high as $437.20 this morning (up 3.2%). Altium shares have been booming ever since the company dropped its own earnings report yesterday. The company is now up a pleasing 22.6% since Monday’s close.
As we covered yesterday, Altium had some pleasing numbers of its own to show off. Those included a 23% rise in revenues and a 57% boost in net profits.
Another ASX 200 tech share worth checking out today is Link Administration Holdings Ltd (ASX: LNK). Link shares are also enjoying some time in the sun today, up a healthy 1.87% at the time of writing to $4.36 a share.
On Monday, Link investors were uncertain after the company revealed that it was moving forward with an acquisition offer. Link’s management recommended stakeholders vote for a reduced $4.81 per share offer from Dye & Durham. So lots going on there.
All in all, it has been a very positive day for ASX 200 tech shares. No doubt that’s just what investors needed after the rough few days we’ve seen on the ASX recently.
The post Why are ASX 200 tech shares having such a cracker of a day? appeared first on The Motley Fool Australia.
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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Altium, Link Administration Holdings Ltd, and WiseTech Global. The Motley Fool Australia has positions in and has recommended WiseTech Global. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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