Streetbeat News

Revenues

META

Truist Securities analyst Youssef Squali reiterated a Buy rating on Meta Platforms Inc (NASDAQ:META) with a price target of $390. Squali expects strong growth recovery for META in 3Q23, with revenues up 21% Y/Y. He raised estimates for Reality Labs' revenue for 4Q23 to $981 million and for FY24 to $2.16 billion. Squali expects Q3 revenue of $33.49 billion, Q4 revenue of $39.07 billion, and FY23 revenue of $133.20 billion. META shares traded higher by 1.25% at $303.97.

Portfolio Pulse from Anusuya Lahiri

October 02, 2023 | 6:05 pm

LVS

MGM

MLCO

PENN

WYNN

Nevada's gambling revenue in August remained steady year-on-year at $1.21bn, despite a 14.3% decline from July's $1.4bn. Slot machines accounted for $829.2m of the total revenue, a 2.1% decrease from last year. Revenue from table, counter, and card games increased by 5.2% to $380.1m. Sports betting revenue rose by 12.4% to $18.1m. The Las Vegas Strip generated $666.8m in revenue, nearly half of the state's total.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 2:42 pm

ENLT

Enlight Renewable Energy (NASDAQ:ENLT) has secured a 15-year power purchase agreement for its Pupin wind farm in Serbia. The state-owned utility Elektroprivreda Srbije will purchase 72% of the project's output at a price of EUR 69 per MWh. The Pupin project, with a total generation capacity of 94 megawatts, will cost USD$149-157 million and is expected to generate revenues of USD$22-24 million and EBITDA of USD$13-15 million in its first full year of operation. Enlight is set to acquire a 66% stake in the project, subject to regulatory approval.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 2:05 pm

MTEK

Maris-Tech, a provider of video-based edge computing solutions, expects revenues of $3.7 to $4.2 million in 2023, an increase of 48% to 68% compared to 2022. The company has launched several new products, including the Jupiter-AI and Uranus-AI video platforms with AI acceleration, and has entered into strategic cooperation agreements with international companies. Maris-Tech's products have been sold in various global markets, and the company is now focusing its marketing efforts on the defense, HLS, civilian, safe cities, and new space markets.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 12:48 pm

SGHC

Super Group (SGHC) has announced its exit from the Indian market due to changes in the Indian Goods and Services Tax, which have made the market no longer commercially viable for the company. Despite this, SGHC reaffirms its full year financial projections for 2023.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 12:41 pm

VGK

The unemployment rate in the Eurozone for August was reported at 6.4%, in line with estimates and lower than the revised 6.5% rate from the previous month.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 9:00 am

NTZ

Natuzzi S.p.A. has reported its Q2 consolidated revenue at €83.5M.

Portfolio Pulse from Bill Haddad

September 29, 2023 | 8:33 pm

BROG

Brooge Energy has reported its first six months revenue for 2023 at $62.9M, marking a 122% increase year-over-year.

Portfolio Pulse from Bill Haddad

September 29, 2023 | 8:06 pm

INGR

Oppenheimer analyst Kristen Owen initiated coverage on Ingredion Inc (NYSE:INGR) with an Outperform rating and a price target of $120. The analyst believes Ingredion's investments in health-conscious products will drive growth and revenue diversification. Owen expects the company's volume recovery to lag modestly but sees near-term affordability alignment facilitating margin expansion. The analyst estimates revenue and adjusted EPS of $8.4 billion and $8.91 for FY23, $8.7 billion and $9.60 for FY24, and $8.9 billion and $10.24 for FY25, respectively.

Portfolio Pulse from Lekha Gupta

September 29, 2023 | 7:04 pm

ATVI

Activision Blizzard Inc is celebrating the 20th anniversary of King, the interactive entertainment company it acquired in 2016. King's Candy Crush Saga has generated $20 billion in revenue since its launch 11 years ago, attracting millions of active players every month and accumulating five billion downloads across all devices. King's president expressed optimism for the future and the company's commitment to delivering fun gameplay and memorable moments for its players.

Portfolio Pulse from Franca Quarneti

September 29, 2023 | 4:21 pm