TAIPEI—Apple supplier Foxconn forecast on Friday that a global chip shortage would run into the second half of 2022 and its fourth-quarter revenue for electronics, including smartphones, would fall more than 15 percent. Chairman Liu Young-way said during a conference call that Foxconn was cautious about its 2022 revenue outlook, citing uncertainties surrounding the coronavirus…
Apple Supplier Foxconn Cautious on 2022 Revenue Outlook
November 12, 2021
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NICE Stock Gains on Q3 Beat, Raised FY21 Outlook
NICE Ltd. reported third-quarter FY21 non-GAAP revenue growth of 20 percent year on year to $494.4 million, beating the consensus of $465.8 million. Non-GAAP revenues from Cloud grew 29 percent Y/Y to $262 million. Non-GAAP gross margin expanded 130 bps to 72.3 percent while the non-GAAP operating margin remained firm at 28.3 percent. Non-GAAP EPS of $1.68…
Analysts Bump Up Price Targets on Affirm Post Q1 Top-Line Beat, Amazon Deal
Analysts hailed Affirm Holdings Inc.’s quarterly results and the Amazon.com Inc. deal by raising their price targets. Barclays analyst Ramsey El-Assal notes Affirm reported a “strong” fiscal Q1 beat and raise. Still, the more critical headline is announcing an exclusive partnership with Amazon, where Affirm will now be the sole buy now pay later provider…
B2B Partners, User Additions Drive Wix.com’s Q3 Beat, Raises FY21 Revenue Outlook
Wix.com Ltd. reported third-quarter FY21 revenue growth of 26 percent year-on-year to $320.8 million, beating the consensus of $315.2 million. Segments Creative Subscriptions revenue increased 19 percent Y/Y to $241.3 million. The Creative Subscriptions collections climbed 28 percent Y/Y to $292.7 million. Creative Subscriptions ARR as of the end of Q3 was $992.3 million, up…
US Postal Service Reports $4.9 Billion 2021 Net Loss
WASHINGTON—The United States Postal Service (USPS) on Wednesday reported a net loss of $4.9 billion for the year ending Sept. 30, narrowing its losses over the prior year. USPS’s operating revenue was $77 billion for the 2021 budget year, an increase of $3.9 billion, or 5.3 percent. It reported a 2020 net loss of $9.2…
Active Buyers Help Fiverr Clock 42% Revenue Growth in Q3, Raised FY21 Outlook
Fiverr International Ltd. reported third-quarter FY21 revenue growth of 42 percent year-on-year to $74.3 million, beating the consensus of $71.1 million. Active buyers increased 33 percent Y/Y to 4.1 million, Spend per buyer rose 20 percent Y/Y to $234. Take rate expanded by 140 bps to 28.4 percent. Non-GAAP gross margin remained flat at 84.4 percent, while…
China’s Regulatory Crackdown Pushes Tencent to Slowest Revenue Growth Since 2004
November 10, 2021
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SHANGHAI—Chinese gaming and social media giant Tencent Holdings posted its slowest revenue growth since it went public in 2004 on Wednesday, hurt by a regulatory crackdown, and said the outlook for the advertising sector would remain weak into next year. Revenue climbed 13 percent to 142.4 billion yuan, slightly below expectations, and was the slowest…
Why Is New Relic Stock Jumping on Tuesday Premarket?
JPMorgan analyst Sterling Auty upgraded New Relic Inc to Overweight from Underweight with a $150 price target, implying a 64.9 percent upside. The software analytics solution provider reported second-quarter FY22 revenue growth of 18 percent year-on-year to $196 million, beating the consensus of $182.2 million. Non-GAAP EPS loss of $(0.10) beat the consensus loss of…
Airbnb Revenue Surges as Countries Open Up for Vaccinated Travelers
November 5, 2021
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Airbnb Inc.’s quarterly revenue topped Wall Street expectations and the short-term home rental company said on Thursday a rebound in global travel in the last three months of the year would drive growth in 2022. International travel search volumes have been rising as countries, including the United States, start to ease pandemic-related restrictions for fully…
Big 3 Segments Drive Thomson Reuters’ Q3 Beat, Raises FY21 Outlook
Thomson Reuters Corp. reported third-quarter FY21 revenue growth of 6 percent year-on-year to $1.53 billion, beating the consensus of $1.50 billion. Organic revenues increased 5 percent, driven by recurring revenues and transactions revenues. 1 percent favorable impact from foreign currency added to growth. The “Big 3” segments (Legal Professionals, Corporates, and Tax & Accounting Professionals)…
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