BUZZ-Australia's Redbubble jumps most in 3 years on better quarterly update

Reuters2023-10-12

** Shares of Redbubble jump as much as 39.1% to A$0.64, set for best day since June 2020

** Online marketplaces for artists says Q1 underlying cash flow rose A$16.9 million ($10.85 million) to positive A$0.7 mln cash flow

** Co says, gross profit after paid acquisition (GPAPA) for Q1 rose 14% to A$26.5 million

** Adds, operating expenses were A$23.3 mln, 32% lower than the pcp

** Co reaffirms FY24 GPAPA margin guidance, to be between 23% and 26%

** About 523,120 shares change hands, compared with the 30-day average volume of 124,040

** Stock down 11.5% YTD as of last close

($1 = 1.5579 Australian dollars)

(Reporting by Ayushman Ojha in Bengaluru)

((Ayushman.ojha@thomsonreuters.com;))

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