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Here’s why the Whispir (ASX:WSP) share price surged 9% today

It’s been another big day on the ASX for Whispir’s shares.
The post Here’s why the Whispir (ASX:WSP) share price surged 9% today appeared first on The Motley Fool Australia. –

The Whispir Ltd (ASX: WSP) share price has spent a day in the green today, despite no fresh news released from the company.

However, the communications platform provider posted its earnings for the financial year 2021 just yesterday.

The Whispir share price finished today’s session trading at $2.53 apiece, 9.52% higher than yesterday’s closing price.

Let’s take a closer look.

The latest news from Whispir

The Whispir share price soared yesterday after it released its FY21 results, which highlighted 12 months of good and bad times for the company.

During FY21, the company brought in $47.7 million of revenue and onboarded 171 new customers. However, its earnings before interest, tax, depreciation and amortisation (EBITDA) showed a $5.6 million loss and it reported a net loss after tax of $9.65 million.

Despite the pitfalls, the market responded positively to Whispir’s results yesterday, boosting its share price 4.9% higher over the course of the day.

Perhaps, the company’s forecast was what excited the market.

Whispir announced it expected to bring in between $57.2 million and $60.2 million of revenue in FY22. However, EBITDA was still likely to be in the red, with an expected EBITDA loss of between $13 million and $15.5 million.

No matter the balance between good and bad news, market watchers appear to have liked what they saw. And not just yesterday.

The Whispir share price has gained a whopping 16.5% this week so far.

Whisper share price snapshot

Despite a good week’s trade, the Whispir share price has struggled on the ASX lately, falling 31% since the start of 2021. It has also slipped 43% since this time last year.

The company has a market capitalisation of around $270 million, with approximately 116 million shares outstanding.

The post Here’s why the Whispir (ASX:WSP) share price surged 9% today appeared first on The Motley Fool Australia.

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More reading

Whispir (ASX:WSP) share price up 6% on solid FY21 result
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Why Fortescue, Over The Wire, Pro Medicus, & Whispir shares are dropping

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. owns shares of and has recommended Whispir Ltd. The Motley Fool Australia has recommended Whispir Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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