3 ASX shares soaring on earnings updates

Earnings season is starting to slow down but there’s still plenty of excitement for those interested in finding it. Take these three ASX shares for example. They’re each leaping higher on Tuesday on the back of earnings announcements.  

Here’s a run through of the results they posted to the market today.

Tesserent Ltd (ASX: TNT)

The Tesserent share price is leaping 8.7% to trade at 12.5 cents on Tuesday afternoon following the release of the company’s financial year 2022 earnings. And what a financial year it was.

The cyber security service provider posted a $166 million turnover – representing a 71% year-on-year increase.

It also brought in $18.6 million of earnings before interest, tax, depreciation, and amortisation (EBITDA) on a normalised basis, representing a 94% lift.

Finally, its normalised net profit after tax (NPAT) rose 38% to $10 million.

EMvision Medical Devices Ltd (ASX: EMV)

Financial year 2022 was also good to EMvison Medical Devices, and the market apparently agrees. It’s bidding the ASX medical imaging technology developer’s stock 7.8% higher to $1.52 on the back of its earnings.

The company posted nearly $4.4 million of revenue for the financial year just been, 144% more than it did for the prior corresponding period (pcp).

Its losses also improved, lifting to a $6.1 million loss compared to financial year 2021’s $8.4 million loss.

Energy Resources of Australia Limited (ASX: ERA)

Finally, the Energy Resources of Australia share price is lifting 2.8% to trade at 25.7 cents after the ASX-listed uranium producer dropped its half-year earnings today.

It posted an after-tax loss of $34 million for the six months ended June. That reflected lower sales volumes and higher non-cash costs. Its revenue from uranium sales also slumped 34% over the period to $35.3 million.

It comes after its Ranger Mine ceased operation in January 2021, meaning no uranium oxide was produced by the company last half. It also spent $80 million on rehabilitation activities at the Ranger Project Area over the half just been.

The post 3 ASX shares soaring on earnings updates appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper 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 EMvision Medical Devices Limited. The Motley Fool Australia has no position in any of the stocks mentioned. 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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