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Highlights of the day: 20 April

July 17, 2023
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FinMeUp
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FinMeUp

FinMeUp highlights of the day


Netflix
- Netflix plunged over 30% after the company announced its first subscriber loss in a decade.
- The company reported that they had lost 200 000 customers in the first quarter, which is expected to increase to 2 million in the second quarter.
- This can largely be attributed to customers dissatisfaction with higher rates, crackdowns on password sharing, and lower-than-expected revenue growth rates.

IBM
- EPS reported at $1.40, above analyst expectations 
- Revenue increased by 7.7% to $14.2 billion 
- Net income rose 64% to $662 million.

Amazon
- Amazon announced 37 new renewable energy products around the world.
- Amazon is on par to reach 100% renewable energy by 2025, five years earlier than the original target of 2030.

Master Drilling
Master Drilling released a brilliant set of results for the year ended 31 December 2021
- USD Revenue increased by 40.0% to USD171.8 million 
- USD EPS increased by 500.0% to 13.2 cents
- ZAR EPS increased by 438,0% to 195,3 cents
- Stable order book of USD237.6 million
- Healthy pipeline of USD507.1 million

Tongaat
- The unrest in KZN had a severe impact on production, costs, and capital expenditure in the South African sugar operations.
- Pressure was put on revenue generation due to a 9% reduction in sugar production and a challenging commercial environment. 
- EPS is expected to be at least 120% below the EPS in 2021

Biggest winners and losers: 
JSE
- Tiger Brands +5.8%
- Discovery -4.4%

US
- IBM +6.65%
- Netflix -35.5%

Crypto
- Bitcoin -0.8%
- Ethereum -1.6%
- XRP -2.5%


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