Highlights of the day: 11 November

FinMeUp highlights of the day

South Africa

MultiChoice Group Limited- Results for the period ended 30 September 2022

• Revenue increased 7% to ZAR28.6bn.
• Subscription revenues grew 8% to ZAR23.8bn.
• User base grew by 5%.
• Multichoice now has 22.1m 90-day active subscribers.
• Operating profit grew 6% to R6 218 million.
• Trading profit grew 2% to R6 130 million.
• Free Cash Flow down 44% to R1.7B.

Sappi Limited- Results for the period ended September 2022

• Sales grew 35% to $1 923 million.
• Profit for the period is down 26% to $26 million.
• Net debt improved by 40% to $1 163 million, which is the lowest in 20 years.
• Basic EPS decreased 17% to 5 U.S. cents.

Libstar 

• Libstar is pleased to announce that all the conditions for their acquisition of Cape Foods Proprietary Limited have been fulfilled.

The U.S.

Coinbase

• Coinbase has formed a strategic web3 partnership with Google Cloud.

Cathie Wood

• Cathie Wood and Ark invest sold 323,457 shares of Nvidia today.

Rivian Earnings

• EPS of -$1.57 beating expectations of -$1.86.
• Revenue of $536M missing expectations of $561.1M.
• Rivian still sees financial year production of 25 000 vehicles.

American October CPI

• CPI for October came in at 7.7% YoY, below expectations of 7.9%.