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Highlights of the day: 28 April

March 1, 2024
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FinMeUp
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FinMeUp

FinMeUp highlights of the day

 

Bitcoin adoption
- Central African Republic lawmakers voted unanimously to pass a bill legalizing crypto.
- Bitcoin will be considered legal tender alongside the regional Central African CFA franc.
- Central African Republic is the second nation in the world to make bitcoin legal tender, after El Salvador did so last year.
- Although the population only consists of 5 million people, this is yet another step forward for cryptocurrency adoption

Pinterest
- Revenue: $525 million vs an expected $572.5 million 
- Monthly active users declined 9%
- Net loss was $5 million for the quarter

Meta Platforms
- Meta soared 16% on Thursday after its Q1 results showed a rise in daily active users.
- CEO Mark Zuckerberg said he's slowing the pace of investment in new projects, including the metaverse.

Spotify 
Q1 Earnings:
- Earnings: $0.58 loss per share vs analyst estimates of $0.67 loss per share.
- Monthly Active Users grew by 19%.
- Premium subscribers grew by 15%.
- Gross Margin finished at 25.2%.
- Announced agreement with Google for User Choice Billing and a long-term partnership agreement with FC Barcelona.

Clicks Group Limited
Unaudited interim results for six months ended 28 February 2022:
- Group turnover up 9.0%
- Retail turnover up 13.6%
- Group diluted HEPS up 26%
- Interim dividend up 26.3% to 180 cents per share
- ROE increased to 47.2%
- R1.3 billion returned to shareholders in dividends and buy backs.

Biggest winners and losers: 
JSE
- Thungela +9.08%
- Steinhoff -10.02%

US
- Meta +12.36%
- Tesla -5.62% (sell off continues)

Crypto
- Bitcoin +1.3%
- Ethereum +1.0%
- BNB +2.4%


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