Australia's TechnologyOne shares fall most in two decades on profit miss

Știință și Tehnologie

Australia's TechnologyOne reported annual profit below analyst expectations on Tuesday as its shift to a software-as-a-service delivery model weighed on near-term margins, sending its shares to their worst session in more than two decades. The enterprise software services provider's stock sank 17.2 per cent to A$29.26, marking its biggest fall since late November 2002 and trimming its year-to-date gains to 6.6 per cent. It was the biggest laggard on the benchmark stock index, which closed

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