- (PLX AI) - GN Store Nord shares were expected to open down after the company's second-quarter earnings missed expectations, analysts said.
- • The Audio division revenue was the biggest culprit, coming in 10% below consensus
- • The Group EBITA miss of 13% was due to softer than expected topline in Audio, Bank of America said
- • Not a great print from GN, but remain mid-term bullish given more sustained growth (potential) in Audio than the market expects, BofA said
- • GN Audio peers have reported a slowdown in the headset market, so it's possible investors had muted expectations for the quarter, SEB said
- • GN implies that Audio will grow 5-7% in the second half, which it can deliver, especially with new videoconferencing products now being sold, SEB said