i agree this result is underwhelming anz dont understand the...

i agree this result is underwhelming anz dont understand the market's excitement by this somewhat disappointing quarterly update.
for a company on a high p/e, this lack of earnings growth is problematic.
you can blame the fact that revenue growth didnt translate to earnings growth due the one-offs from litigation, aquisition costs, currency headwinds etc, but the bottom line is that the announcement deliberately focussed on revenue growth and gaap adjusted earnings to spin the fact that earnings were flat.
i sold my holdings at 8.60 recently and was tempted to buy back yesterday at 8.30 but i certainly wont buy now on the 60c jump which i dont believe is justified. if the stock corrects back to 8.30 ill reconsider, but the bright tree acquisition will take a year or more to integrate the operational synergies required to drive earnings.