The Daily Update: 14 February

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

South Africa

Telkom SA SOC Limited- Trading update for the quarter ended 31 December 2022

• Group revenue grew by 2.3% to R11 031 million.
• Mobile revenue grew by 7.0% to R5 685 million.
• Mobile service revenue grew by 4.5%.
• Handset and equipment revenue up 17.0%.
• Group EBITDA fell by 13.5% to R2 492 million.
• Mobile data traffic and subscribers up 25.6% and 12.9% year-on-year to 309 petabytes and 18.6 million subscribers.
• Mobile broadband customers grew by 9.9% to 11.5 million.
• IT business revenue grew by 8.8% to R1 587 million and Telkom completed the acquisition of a cloud consulting services business.

The Spar Group Limited- Trading update for the 18 weeks to 28 January 2023

• Spar Southern Africa grew total sales by 7.4%.
• SPAR grocery wholesale business increased sales by 9.7%, while TOPS at SPAR liquor sales increased by 1.6%.
• The pharmaceutical business grew turnover by 18.1%.
• Build It sales fell by 2.8% primarily due to demand for building materials continuing to slow.
• Spar Switzerland turnover fell by 3.8%.
• Spar Poland turnover grew by 4.6%.

Santam Limited- Trading statement

• EPS is expected to be between 1 569 cents and 2 068 cents per share, representing a decrease of between 17% and 37%.

The U.S.

Palantir Earnings

• EPS of $0.1.
• Revenue of $508.6M beating expectations of $505.1M.
• Palantir expect 2023 to be it's first profitable year, with AI driving it's growth.

Microsoft

• Microsoft is getting ready to show how ChatGPT and AI will expand to its core productivity apps like Word, PowerPoint, and Outlook in the coming weeks.

Coca-Cola Earnings

• EPS of $0.45 in line with expectations.
• Revenue of $10.1B beating expectations of $9.9B.