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[ad_1] The post Snap Skyrockets on Blowout Earnings as User Growth Impresses appeared first on Millennial Money. Social media company Snap (NYSE: SNAP) reported blockbuster second quarter results on Thursday evening, which showed a surge in revenue driven by strong user growth. The advertising industry had pulled back significantly a year ago near the beginning of the pandemic, which is now creating favorable comparisons for advertising-based companies. As of 11 a.m. EDT, shares in the Snapchat parent were up 20%. Ad budgets bounce back Revenue in the second quarter soared by 116% to $982 million, utterly crushing the consensus estimate of $846.6 million in sales. Snap added 13 million daily active users (DAUs) during the quarter, bringing its global user base to 293 million DAUs. Most of the DAU gains are coming from emerging markets in the company’s Rest of World segment, while user growth in North America and Europe were more modest. On the monetization front, Snap improved average revenue per user (ARPU) across all of its geographical segments.  Segment ARPU (Q2’ 21) YOY Growth North America $7.37 116% Europe $1.95 76% Rest of World $1.07 20% Global $3.35 76% Data source: Snap. “Our second quarter results reflect the broad-based strength of our business, as we grew both revenue and daily active users at the highest rates we have achieved in the past four years,” CEO Evan Spiegel commented in a release. “We are pleased by the progress our team is making with the development of our augmented reality platform, and we are energized by the many opportunities to grow our community and business around the world.” Adjusted gross margin also expanded to 55% as Snap kept costs in check. The company was among the first large technology companies to completely outsource its cloud infrastructure to third-party providers, and hosting costs have remained stable. Despite using a capital-light model associated with relying on other companies for cloud infrastructure, free cash flow was negative $116 million. Snap continues to innovate on augmented reality (AR), unveiling the latest fourth-generation version of its Spectacles wearable in May. Previous models allowed users to capture Snaps, but the latest Spectacles will actually overlay content in true AR fashion, integrating the platform’s Lens Studio. That all resulted in adjusted earnings per share of $0.10, while Wall Street analysts were expecting Snap to lose $0.01 per share on a non-GAAP basis. Adjusted EBITDA was $117 million. A rosy outlook despite COVID-19 uncertainties Guidance was also strong, with Snap forecasting revenue in the third quarter to grow by 58% to 60% to reach $1.07 billion to $1.09 billion. That outlook is comfortably ahead of the $1.01 billion in sales that analysts are looking for. Adjusted EBITDA is expected to be in the range of $100 million to $120 million. “As we look forward to Q3, we are observing a resurgence of COVID-19 cases and the ongoing impact of the pandemic around the world, which continues to present an uncertain operating environment,” CFO Derek Andersen added on the conference call with analysts. “We currently estimate that DAU will grow at a rate of approximately 21% year-over-year to reach approximately 301 million in Q3.” Pick Like A Pro Where to invest $500 right now Before you buy Amazon, or Netflix, or Apple, consider this… The team at Motley Fool first recommended each of those stocks more than a dozen years ago! They discovered Netflix for $1.85 per share, back in the days of DVDs by mail. And recommended Amazon at $15.31 in 2002, before most people were comfortable using credit cards online. And even hit Apple at $4.97 per share, about a month before the release of the very first iPhone. Check out where those stocks are today. The bottom line: a $500 investment in all three of these stocks would be worth more than $200,000 today! And here’s why that’s important: The Motley Fool’s flagship investing service Stock Advisor just announced their top 10 “best buys now” across the entire stock market. Whether you’re starting with $100, $500, or more, you’ll want to get the full details! Email Address Continue Also opt-in to receive Millennial Money! It’s our newsletter devoted to helping you achieve financial freedom. That means you’ll receive new stock ideas, our favorite side hustles, and much more every single week! By submitting your email address, you consent to us keeping you informed about updates to our website and about other products and services that we think might interest you. You can unsubscribe at any time. Please read our Privacy Statement and Terms & Conditions. window.onload = function(event) { if (!document.getElementById(‘ecap-async-js’)) { Sentry.captureMessage(“MMCTA Plugin Failure: ecap.js not enqueued”); } }; Click here to learn more .tmfsa-text-widget .ecap-widget { padding: 0 !important; border-left: 0 !important; } The post Snap Skyrockets on Blowout Earnings as User Growth Impresses appeared first on Millennial Money. [ad_2] Source link

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[ad_1] Just HODL! Bitcoin and Ethereum outperform ‘lower risk’ crypto index funds [ad_2] Source link

[ad_1] At Friday’s weekly bond auction, the central bank devolved Rs 11,144.145 crore on primary dealers, and accepted only Rs 2,855.855 crore at Rs 99.6300 cut off price or 6.1498% yield. [ad_2] Source link

[ad_1] The post Boston Beer Stock Plummets on Earnings Miss as Hard Seltzer Goes Flat appeared first on Millennial Money. Following a massive boom in demand for hard seltzer in recent years, consumers may have had their fill. Boston Beer Company (NYSE: SAM) reported second quarter earnings on Thursday, with the results missing investor expectations due in part to weak sales of hard seltzer. Growth in that category is slowing as the market matures, while competition intensifies as beverage companies introduce more hard seltzer brands. As of 12 p.m. EDT on Friday, Boston Beer stock had plummeted by 23%. A Truly disappointing quarter Revenue in the second quarter came in at $602.8 million, a meaningful miss compared to the consensus estimate of $665.3 million. Depletions, which represent sales by distributors to retailers, grew 24%, while shipment volume was roughly 2.45 million barrels. As shipment volume outpaced depletions, distributor inventory increased and was around five weeks on hand at the end of the quarter. As pandemic restrictions on retail establishments are lifted in many regions, Boston Beer’s on-premise channel is seeing growth as people start going back out as opposed to consuming alcohol at home. Still, Chairman and Founder Jim Koch conceded that the overall beer industry was “softer than we had anticipated,” including in the hard seltzer category. Boston Beer’s flagship hard seltzer brand is Truly, which is second only to White Claw. The company attributed weakness in hard seltzer to several factors. The market is maturing, leading to slowing growth in household penetration. Hard seltzer volumes are shifting to the on-premise channel, where there are more choices than ever before. Year-over-year comparisons are also difficult, as “pantry loading” led to bulk purchasing in the second quarter of 2020. “We overestimated the growth of the hard seltzer category in the second quarter and the demand for Truly, which negatively impacted our volume and earnings for the quarter and our estimates for the remainder of the year,” CEO Dave Burwick conceded. “We increased our production of Truly to meet our summer peak and have had lower than anticipated demand for certain Truly brand styles which has resulted in higher than planned inventory levels at our breweries and increased supply chain costs and complexity.” Net income was $59.2 million, or $4.75 per share, in the second quarter. Wall Street was expecting $6.85 per share in profit. Slashing its profit outlook As a result of the disappointing quarter, Boston Beer cut its guidance for 2021. The company now expects full-year depletions and shipments to increase by 25% to 40%, down from its prior forecast of 40% to 50%.  Boston Beer now only plans to spend $180 million to $230 million in capital expenditures, down from the previous estimate of $250 million to $350 million. The company will also reduce its advertising budget. Adjusted earnings per share for the year are expected to be in the range of $18 to $22, compared to the previous outlook of $22 to $26. Pick Like A Pro Where to invest $500 right now Lots of new investors take chances on long shots instead of buying shares of great companies. I prefer businesses like Amazon, Netflix, and Apple — they’re all on my best stocks for beginners list. There’s a company that “called” these businesses long before they hit it big. They first recommended Netflix in 2004 at $1.85 per share, Amazon in 2002 at $15.31 per share, and Apple back in the iPod Shuffle era at $4.97 per share. Take a look where they are now. That company: The Motley Fool. For people ready to make investing part of their strategy for financial freedom, take a look at The Motley Fool’s flagship investing service, Stock Advisor. They just announced their top 10 “best buys now” across the entire stock market. Whether you’re starting with $100, $500, or more, you should check out the full details. Email Address Continue Also opt-in to receive Millennial Money! It’s our newsletter devoted to helping you achieve financial freedom. That means you’ll receive new stock ideas, our favorite side hustles, and much more every single week! By submitting your email address, you consent to us keeping you informed about updates to our website and about other products and services that we think might interest you. You can unsubscribe at any time. Please read our Privacy Statement and Terms & Conditions. window.onload = function(event) { if (!document.getElementById(‘ecap-async-js’)) { Sentry.captureMessage(“MMCTA Plugin Failure: ecap.js not enqueued”); } }; Click here to learn more .tmfsa-text-widget .ecap-widget { padding: 0 !important; border-left: 0 !important; } The post Boston Beer Stock Plummets on Earnings Miss as Hard Seltzer Goes Flat appeared first on Millennial Money. [ad_2] Source link

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[ad_1] Global insurance recovery will be faster, stronger than in 2008 -Swiss Re [ad_2] Source link

[ad_1] State-run NTPC also plans to generate green hydrogen on a commercial scale from the electricity generated by the solar panels to be installed in its upcoming 4,750 mega-watt renewable energy park at Rann of Kutch in Khavada, Gujarat. [ad_2] Source link

[ad_1] The following Q&A comes from the HW+ exclusive Slack channel, where HousingWire Senior Real Estate Reporter Matthew Blake answered questions about his latest coverage on the impact of the DOJ’s decision and how the industry is gearing up to respond. During the Q&A, Blake discussed the ramifications of previous DOJ investigations into NAR and conversations he has had with top-level agents on how they’re feeling about this news. The following Q&A has been lightly edited for length and clarity. HousingWire: To start, the Department of Justice allowing itself to pursue a broader investigation into the NAR is a high-level, brewing conflict. How, if at all, does it practically affect agents? Mathew Blake: This is not an obscure, legal matter. The DOJ repeatedly said in withdrawing from its consent decree with the Realtor’s trade group that it is looking at commissions. Many scholars and antitrust lawyers, but not many agents, say U.S. real estate commissions are artificially inflated by an illegal horizontal conspiracy between NAR and brokerages. So, if DOJ were to believe that, they would be pursuing ways to lower commissions for consumers. In other words, it could affect the very economic model we know for agents — which is that they are independent contractors who make a living on commissions that can be 3% each of a total home purchase price HousingWire: Interesting insight. To build on that, would you consider NAR to be a monopoly? Mathew Blake: I’m not a lawyer so I don’t know, but the lay understanding of monopoly is dominance of one field, and NAR is certainly the dominant trade group for agents. But more than just representing labor, they also represent management (brokerages) and claim to work in the best interests of consumers. So, they have an outsized role in the American real estate market, and, I would say, a unique one among trade groups. The question, though, for antitrust purposes is whether they are a monopoly causing harm to consumers and that’s where you get into full-throated arguments This content is exclusively for HW+ members. Start an HW+ Membership now for less than $1 a day. Your HW+ Membership includes: Unlimited access to HW+ articles and analysis Exclusive access to the HW+ Slack community and virtual events HousingWire Magazine delivered to your home or office Become a member today Already a member? log in The post The DOJ vs. NAR: What’s the impact to real estate agents? appeared first on HousingWire. [ad_2] Source link

[ad_1] Each week, Cut the Crap Investing founder Dale Roberts shares financial headlines and offers context for Canadian investors. Earnings season, part II: both sides of the border In last week’s column, we kicked off earnings season and the projections for what is setting up to be a robust reporting period. It is likely to be the earnings growth peak in both the U.S. and Canada.  A roundup report on Seeking Alpha offered…  “The rally goes on…. A three-day winning streak on Wall Street—that followed a sharp selloff on Monday—is showing no signs of slowing down as futures continued to climb in overnight trading. “‘The earnings results have continued to be strong and guidance is showing that the Delta variant isn’t impacting the recovery, so far at least,’ said Esty Dwek, head of global market strategy at Natixis Investment Managers. ‘That is giving confidence to the market that the recovery can continue’.” Canadian stocks are also joining the rally. Here’s a snapshot of selected earnings:  CN Rail beat projections on the earnings front, but trailed on revenue. Railways are very economically sensitive bellwether industrials, as they move the goods across the country and across North America. Freight revenues (C$3,452 million), which contributed 95.9% to the top line, increased 14% year over year as economic activities picked up.   Canadian National still anticipates earnings per share to grow in double digits during 2021 from adjusted earnings of C$5.31 in 2020.  Rogers Communications earnings were just short of expectations, while they beat on revenue, reporting C$3.58B. That’s up 13.3% year over year and beat by C$40M. Rogers management offered…  “This quarter, we generated cash flow from operating activities of C$1,016 million, down 29%, and free cash flow of C$302 million, down 35%, as a result of increases in cash income taxes and capital expenditures.” Air Canada continues to face incredible challenges, but reported revenues that surpassed expectations. That said, they are still largely grounded and losing money at a good clip.  The airline reported operating revenues of $837 million, an increase of $310 million or 59% from the second quarter of 2020, and an operating loss of $1.133 billion compared to $1.555 billion in the second quarter of 2020. Net cash burn of $745 million, or about $8 million per day, on average, is down from the $15 million per day range of the first quarter. They expect that to fall to $3 to $5 million in the third quarter.  Travel restrictions are being removed; will Canadians take to the skies? That is yet to be seen. In a recent post we reported on the potential of close-quarters hesitancy.  But the stock has not been grounded. The stock is up over 59% over the last year. That might be rich, for a company that is burning cash and not fuel.  We’ll keep an eye on the Canadian traveller and Air Canada.  South of the border… U.S.-index and portfolio staple Johnson & Johnson had a robust quarter, beating on earnings and revenue: Q2 Non-GAAP EPS of $2.48 beats by $0.19; GAAP EPS of $2.35 beats by $0.31. Revenue of $23.31B (+27.1% year over year) beats by $770M. They also increased guidance moving forward. That can also affect stock prices. JNJ is up in a healthy fashion after their earnings release.  Source: Seeking Alpha I’m happy to hold JNJ in our market-beating U.S. stock portfolio.  Coca-Cola earnings and revenues bubbled in the second quarter: Q2 Non-GAAP EPS of $0.68 beats by $0.12; GAAP EPS of $0.61 beats by $0.05. Revenue of $10.1B was up an incredible 42% year over year, and beats by $800M. They also adjusted guidance more favourably, and like Pepsi that I own, the stock saw a nice pop after earnings.  Source: Seeking Alpha Diversified telco Verizon reported very strong numbers: Q2 Non-GAAP EPS of $1.37 beats by $0.07; GAAP EPS of $1.40 beats by $0.11. Revenue of $33.8B (+11.2% year over year) beats by $1.07B. Wireless Retail postpaid net adds of 528K vs. a consensus of 360K. Chip maker Texas Instruments beat on earnings and revenue, but the market did not like its forward guidance. That took the stock down: Q2 Non-GAAP EPS of $1.99 beats by $0.14; GAAP EPS of $2.05 beats by $0.22. Revenue of $4.58B (+41.4% year over year) beats by $220M. Alaska Air reported its first profit since 2019: Q2 Non-GAAP EPS of -$0.30 beats by $0.15; GAAP EPS of $3.15 beats by $2.90. Revenue of $1.53B (+263.4% year over year) beats by $10M.  And American Airlines surprised on a few metrics: Q2 Non-GAAP EPS of -$1.69 beats by $0.03; GAAP EPS of $0.03 beats by $0.92. Revenue of $7.45B (+359.9% year over year) misses by $30M. Load factor of 77% vs. consensus of 72.1%. Q3 capacity to be down approximately 15% to 20% vs. 3Q19, total revenue to be down approximately 20% vs. 3Q19.  The earnings watch continues. Things should heat up more next week on Canadian side of the border.  Understanding stagflation: is it the biggest threat? Stagflation is a period where we have inflation but no economic growth. That is not a good combination. Our cost of living is increasing and many companies will move through difficult times; with the economy stagnant or shrinking, more and more workers join unemployment lines.  Stagnation hit with force in the 1970s and into the early ’80s. It ate investors alive.  You can head to the Moneychimp calculator to play around with U.S. stock returns from the period from 1966 to 1981. Don’t forget to hit that inflation button. From my own research using Canadian stock market data supplied by BlackRock and using the inflation calculator on the Bank of Canada site, our markets also came up short for most of the period. Canadian stocks roared back toward the end of the stagflation era, after most of the damage was done.  Real and lasting inflation is arguably the most-discussed investment topic (and fear) of the day. And stagflation is a greater concern.  From Vox, here is a