Commonwealth Bank Beats Estimates, CSL’s Profit Shrinks as CEO Resigns
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Good morning, earnings season is heating up, with two of Australia’s largest companies reporting early today. Commonwealth Bank delivered a profit beat, while CSL’s first-half net income slumped from a year earlier, with the resignation of CEO Paul McKenzie compounding worries. Be sure to watch both stocks at market open. Adding to the leadership churn, the ASX is also preparing for a change at the top, with CEO Helen Lofthouse set to depart - Carmeli Argana, Australian stocks reporter.
Commonwealth Bank of Australia’s profit topped estimates, buoyed by growth in its flagship mortgage business and a push in lending more to companies.