Macquarie Dips After Profit Misses Estimates on Weak Markets
- Commodities and global markets division sees earnings slip
- Macquarie’s buyback is extended by a further 12 months
The Macquarie Group Ltd. headquarters in Sydney.
Photographer: Brent Lewin/BloombergThis article is for subscribers only.
Macquarie Group Ltd.’s profit fell short of analyst estimates as subdued volatility weighed on its key commodities and global markets business. The stock opened 4.3% lower.
Net income for the six months to Sept. 30 rose to A$1.61 billion ($1.06 billion), from A$1.42 billion a year earlier, according to a statement Friday. That missed the A$1.74 billion average estimate of four analysts surveyed by Bloomberg.