Highlights of the day: 7 September

FinMeUp highlights of the day

South Africa

Discovery Limited- Audited results for the year ended 30 June 2022

• Revenue grew 7% to R50.52 billion.
• Normalised profit from operations grew 45% to R9.384 billion.
• Profit for the year increased by 70% to R5 479 million.
• EPS increased by 72% to 825.5 cents per share.
• No dividend was declared.

Prosus N.V.- Update on repurchase program

• Prosus repurchased 3 453 497 Prosus Shares for a total consideration of US$214 358 931.

Tiger Brands

• According to Reuters, Tiger Brands is recalling its Purity Essentials baby powder products as a precautionary measure after traces of asbestos were detected in test samples.
• The share is down 4.83% so far today.

The U.S.

Apple

• Brazils ministry of justice has fined Apple $2.3M and has halted iPhone 13 sales until Apple includes the charger in the box.

Walmart & UnitedHealth Partnership

• Walmart and UnitedHealth have announced the beginning of an initial 10-year partnership.

Nio earnings

• EPS of -$0.20 missing expectations of -$0.18.
• Revenue of $1.54B beating expectations of $1.42B.
• The company said next quarter it expects to deliver between 31K to 33K vehicles below consensus estimates of 37.7K.

Sofi

• SoFi Announces Multi-Year Partnership with Los Angeles Chargers Quarterback Justin Herbert.