The Daily Update: 1 February

The latest updates from the JSE and NYSE in the past 24 hours.

South Africa

MTN Group Limited- MTN Nigeria annual results

• Revenue grew by 21.6% to R2 012 272 million.
• Operating profit grew by 25.4% to R733 298 million.
• Profit before taxation grew by 22.3% to R 533 972 million.

Glencore PLC- Full year production report

• Own-sourced copper production fell by 12% to 1,058,100 tonnes.
• Own-sourced cobalt production grew by 40% to 43,800 tonnes.
• Own-sources zinc production fell by 16% to 179,300 tonnes.
• Own-sourced nickel production grew by 5% to 107,500 tonnes.
• Attributable ferrochrome production remained unchanged from the previous year at 1,488,000 tonnes.
• Coal production grew by 6% to 110.0 million tonnes.
• Production guidance for the year remains unchanged from the December 2022 investor update.

Anglo American PLC- De Beers rough diamond sales value

• Anglo American plc announces the value of rough diamond sales for De Beers first sales cycle of 2023, amounting to $450 million.
• That is a decrease from $660 million recorded in the first sales cycle of 2022.

The U.S.

AMD earnings

• EPS of $0.69 beating expectations of $0.67.
• Revenue of $5.6B beating expectations of $5.52B.
• AMD Q4 Revenue by segment:
• Data Center Revenue $1.7B.
• Client Revenue $903M.
• Gaming Revenue $1.6B.
• Embedded Revenue $1.4B.

Snapchat Earnings

• EPS of $0.14 beating expectations of $0.11.
• Revenue of $1.30B missing expectations of $1.31B.

PayPal

• PayPal has laid off 7% of its workforces

Peloton Earnings

• EPS of -$0.98 missing expectations of -$0.64.
• Revenue of $792.7M beating expectations of $710.5M.
• Peloton ended the quarter with 3.03M connected fitness subscribers up 10% YoY.

Intel

• Intel is making companywide cuts to employee pay.
• Mid-level workers - 5% reduction.
• Senior leaders - 10-15% reduction.
• CEO Pat Gelsinger - 25% reduction to base salary.
• Hourly workers - No change.