Flutter made headlines this week with their phenomenal second-quarter earnings report, causing shares to soar by 8%. The main highlight was the success of their FanDuel betting platform, which managed to capture market share and experience explosive revenue growth, even in highly competitive states with well-established sports betting and online gaming markets. DraftKings’ Controversial Surcharge
Earnings
Tencent, the tech giant from China, has once again exceeded expectations in its second-quarter earnings report. The company reported a revenue of 161.12 billion Chinese yuan, beating the LSEG consensus estimate by a small margin. Profit attributable to equity holders of the company also outperformed, coming in at 47.63 billion Chinese yuan compared to the
Palo Alto Networks has been riding a wave of success leading up to its fourth-quarter earnings report, with the stock surging nearly 17% since August 5th. This outperformance compared to the S&P 500 has set the bar high for the cybersecurity leader. As investors eagerly anticipate the company’s quarterly results, questions loom about whether Palo
Chili’s recent success can be attributed to a combination of factors, including an ad campaign targeting fast-food chains and the popularity of a TikTok-viral appetizer. The CEO of parent company Brinker International, Kevin Hochman, believes that their strong performance is an indication that customers are finally recognizing the chain’s two-year turnaround efforts. While the stock
Alibaba, the Chinese e-commerce giant, recently reported its financial results for the June quarter of 2024. Unfortunately, the numbers were disappointing as the company missed both revenue and net income expectations. Revenue came in at 243.24 billion Chinese yuan, falling short of the expected 249.05 billion yuan, while net income was 24.27 billion yuan, below
Norway’s Government Pension Fund Global recently announced a remarkable first-half profit of 1.48 trillion kroner ($138 billion). This profit was primarily attributed to the fund’s successful investments in technology stocks, showcasing a robust return. With a total value of 17.75 trillion kroner at the end of June, the fund undoubtedly holds a significant position in
UBS CEO Sergio Ermotti recently expressed his concerns about potential increased market volatility in the second half of the year. While he does not foresee a recession in the United States, he believes that a slowdown is a real possibility. This comes in the wake of sharp sell-offs in global equities last week, triggered by
Home Depot recently exceeded quarterly expectations, but projected weaker sales for the remainder of the year due to various factors affecting consumer demand. The home improvement giant anticipates a 3% to 4% decline in full-year comparable sales, a significant shift from the previously expected 1% decrease. Chief Financial Officer Richard McPhail highlighted the impact of