The Daily Update: 2 August

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

South Africa

Curro Holdings Limited

• EPS is expected to be between 30.8 cents and 36.1 cents, representing an increase of 11.6% to 30.6%.

JSE Limited

• Net profit after tax (NPAT) increased by 10%.
• Headline earnings per share (HEPS) increased by 12%
• EBITDA decreased by 4% compared to the previous year's performance.
• Total revenue increased by 5%, supported by double-digit growth in Information Services and JSE Investor Services (JIS) revenue, and an uptick in trading activity in derivative markets.
• Non-trading revenue now represents 36% of operating revenue, up from 34% in the previous year.
• Total operating expenditure increased by 8%, with personnel-related expenses rising due to annual inflationary salary increases and an increase in the Long-Term Incentive Scheme (LTIS).
• The Group remains cash generative, with net cash from operations of R488 million.
• Capital expenditure of R33 million is focused on protecting the core business and growing new business lines.
• The Group maintains a robust balance sheet with cash of R1.9 billion at the end of June 2023.

Gold Fields Limited

• Headline earnings per share for H1 2023 are expected to be between US$0.49 and US$0.53 per share, which is 9% to 16% lower than the same period in H1 2022. The decrease is attributed to lower gold volumes sold and higher operating costs due to mining inflation and increased amortisation and depreciation.

The U.S.

Amazon

• Amazon has announced that it's rolling out its virtual health clinic service nationwide.

AMD Earnings

• EPS of $0.58 beating expectations of $0.57.
• Revenue of $5.4B beating expectations of $5.32B.
• AMD CEO, Lisa Su said "It is clear that AI represents a multi-billion dollar opportunity for AMD"
• The company has also stated that just said it's on track to launch and ramp its data center AI solutions in Q4.

Starbucks Earnings

• EPS of $1.00 beating expectations of $0.95.
• Revenue of $9.2B missing expectations of $9.28B.

Tesla

• Tesla is seeking nearly $100 million from the US to build nine electric semi-truck charging stations along a route from the southern border of Texas to northern California.