Shares of SEEK LTD plunged 10.52% intraday after the online employment marketplace operator released its fiscal 2026 results and provided a weaker-than-expected outlook for fiscal 2027.

While the company reported fiscal 2026 adjusted earnings per share of AU$0.557, slightly above the FactSet consensus of AU$0.552, and sales revenue of AU$1.28 billion, beating estimates of AU$1.19 billion, the guidance for the coming year triggered the sell-off. SEEK forecast fiscal 2027 revenue in the range of AU$1.21 billion to AU$1.28 billion, implying a potential decline from the AU$1.284 billion just achieved. Adjusted profit is expected to be between AU$185 million and AU$215 million, roughly flat compared to the AU$199.1 million recorded in fiscal 2026.

The downbeat outlook aligns with earlier concerns raised by Citi, which flagged macroeconomic headwinds affecting Australian online platforms. The brokerage had cut its estimates for SEEK, and the official guidance appears to have confirmed market fears of slowing growth, prompting the sharp intraday decline.