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Investing.com-- Superloop Ltd (ASX:SLC) shares rose to their highest level in nearly nine years on Monday after the Australian internet provider upgraded its annual earnings guidance, citing strong trading performance.
The company now expects FY25 underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) to reach or exceed A$91 million, up from its previous range of A$83-A$88 million announced in August 2024. The new guidance marks a 67% increase from FY24.
The upbeat forecast sent Superloop shares jumping as much as 7.4% to A$3.2, their highest since September 2016.
Superloop, which operates consumer, business, and wholesale internet services, attributed the outperformance to its Infrastructure-on-Demand platform and expanding market share.
Final audited results will be released on August 20, 2025, the company added.