Streetbeat News

Revenues

SNE

Sony has sold more than 40 million PlayStation 5 units since its launch in November 2020, according to Reuters.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 2:22 pm

RCL

Royal Caribbean's executive stated in a conference call that the North American consumer base remains strong. The company also noted an increase in volumes from European consumers looking to book their summer vacations, indicating the strength of the company's brands.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 2:14 pm

CMCSA

MSFT

NFLX

TTD

Netflix has restructured its advertising pact with Microsoft and reduced ad prices to boost its ad-supported business. The streaming company launched a $6.99-a-month ad-supported option in 2022, with Microsoft as its ad partner. However, Microsoft failed to sell the requisite ad inventory, leading to a payout under the guarantee. Netflix is now offering advertisers better deals and is exploring ways to make it easier for advertisers to purchase ad space. It is in discussions with ad-tech companies, including The Trade Desk and Comcast Corp's FreeWheel, to sell Netflix ad space.

Portfolio Pulse from Anusuya Lahiri

July 27, 2023 | 1:36 pm

MCD

McDonald's Corp reported Q2 FY23 sales growth of 13.6% year-on-year to $6.50 billion, beating the analyst consensus of $6.29 billion. Global comparable sales rose 11.7%, with U.S. comparable sales up 10.3%. Sales by company-operated restaurants increased 18% Y/Y to $2.48 billion, while sales from franchised restaurants rose 12% to $3.93 billion. Adjusted EPS of $3.17 beat the analyst consensus of $2.79. The company expects to open about 1,900 restaurants globally in FY23.

Portfolio Pulse from Shivani Kumaresan

July 27, 2023 | 1:30 pm

FMX

Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA) announced its Q2 2023 results, showing a growth of 18.3% in total consolidated revenues compared to Q2 2022. FEMSA Retail's revenues increased by 19.9%, while Coca-Cola FEMSA's revenues grew by 7.2%. The company's digital platform, Spin by OXXO, reported 5.7 million active users, and Spin Premia had 15.8 million active loyalty users.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 1:23 pm

LOVFF

Cannara Biotech Inc. reported its Q3 FY23 financial results, showing a 57% YoY increase in net revenue to CA$15.9 million ($12 million). Other highlights include an 81% increase in gross profit to CA$8.6 million, a 105% increase in adjusted EBITDA to CA$3.9 million, and a 107% improvement in net income to CA$2.9 million. The company also reported a 113% increase in free cash flow to CA$3.2 million and has CA$27.1 million in working capital. Cannara's market share grew by more than 30% in Quebec and Ontario, and it began sales in Alberta.

Portfolio Pulse from Vuk Zdinjak

July 27, 2023 | 1:09 pm

CBWTF

CGC

DBCCF

HEXO

HITI

ROMJF

The Canadian cannabis market has shown steady growth, but underperforms the U.S. market. Only three out of the 17 Canadian companies reviewed showed positive operating cash flow (OCF) in 2022, including Decibel (OTC:DBCCF), High Tide (NASDAQ:HITI) and Rubicon (OTC:ROMJF). Companies with high net debt-to-sales ratios such as Auxly (OTC:CBWTF), Canopy Growth (NASDAQ:CGC), and HEXO Corp. (NASDAQ:HEXO) could face challenges if cash flow trends don't improve.

Portfolio Pulse from Nicolás Jose Rodriguez

July 27, 2023 | 1:05 pm

EFSH

ICCT

RWLK

Insiders at iCoreConnect Inc. (OTC:ICCT), ReWalk Robotics Ltd. (NASDAQ:RWLK), and 1847 Holdings LLC (NYSE:EFSH) have recently acquired shares, indicating their confidence in the companies' prospects. iCoreConnect recently announced its Q1 2023 results, while ReWalk Robotics reported Q1 2023 revenues of $1.23 million, missing the consensus estimate of $2 million. 1847 Holdings expects Q2 revenue of $20 million, a 54% YoY increase.

Portfolio Pulse from Lisa Levin

July 27, 2023 | 12:58 pm

EOLS

Evolus has increased its FY23 revenue guidance from $180M-$190M to $185M-$195M, exceeding the estimated $187.83M. The company attributes this to accelerated growth and the successful execution of their growth strategy. Evolus also plans to expand its product portfolio with five different fillers starting in 2025, aiming to accelerate top-line growth to $700 million by 2028.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 12:50 pm

PATK

Patrick Industries reported a 38% decrease in revenue, primarily due to a 44% reduction in RV industry wholesale unit shipments.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 12:07 pm