SEEK posts strong FY2026 profit growth, shares fall 14%

Australian job marketplace SEEK Ltd. reported a 25% year-over-year increase in net profit for the fiscal year ended June 2026, driven by higher revenue and cost discipline. The company’s full-year earnings per share rose 22% to 118.6 cents, exceeding analyst expectations.

SEEK’s revenue grew 12% to A$1.2 billion, supported by strong demand in its core Australian and New Zealand markets, as well as contributions from its global classifieds business. The company noted sustained growth in job advertisements and improved monetization of its platform, particularly in the professional and healthcare sectors.

Despite the positive financial results, SEEK’s shares fell 14% in early trading on the Australian Securities Exchange. Investors appeared to focus on the company’s cautious outlook for the first half of fiscal 2027, citing macroeconomic uncertainty and potential softening in hiring trends. SEEK’s guidance implied a revenue growth slowdown to mid-single digits, below some market forecasts.

Chief Executive Officer Ian Narev emphasized the company’s resilience amid volatile economic conditions, highlighting SEEK’s diversified revenue streams and operational efficiency. "We are well-positioned to navigate near-term challenges while continuing to invest in long-term growth," Narev stated.

The earnings report follows SEEK’s recent strategic initiatives, including the expansion of its digital tools for employers and job seekers, as well as partnerships to enhance its data analytics capabilities. The company also reaffirmed its commitment to returning capital to shareholders via dividends and buybacks, though no specific updates were provided on distribution timing.