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Six ASX earnings beats, six share price falls — investors are pricing in margin pressure, not revenue

Kogan hit $1 billion in sales and still dropped 15%; Bendigo, Navigator and Aussie Broadband posted growth and fell anyway.

Kogan.com crossed $1 billion in annual sales for FY26 and its stock fell 15% the same day, the sharpest example of an Australian earnings season where record headline numbers are being punished rather than rewarded.

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