The Daily Update: 20 January

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

South Africa

Mr Price Group Limited- Trading update for the 13 weeks ended 31 December 2022

• Retail sales and other income grew by 34% to R12.4bn.
• All the recently acquired businesses (S88, Power Fashion, and Yuppiechef) achieved double-digit sales growth over the Period.

Karooooo Limited- Third Quarter 2023 Unaudited Financial Results

• Cartrack subscribers grew by 14% to 1 678 606.
• Net Cartrack subscriber additions grew by 27% to 78 593.
• Total revenue increased 29% to R930 million.
• Subscription revenue increased 16% to R772 million.

Attacq Limited

• Attacq Limited has refinanced R1.0 billion of term loan facilities.

The U.S.

Google

• Google has informed its employees, that the tech giant will be laying off 12 000 employees.

Netflix earnings

• EPS of $0.12 missing expectations of $0.42.
• Revenue of $7.85B in line with expectations.
• Netflix added 7.66 million subscribers globally last quarter above expectations of 4.5M.
• Netflix CEO Reed Hasting is leaving his role as CEO and will be the executive chairman of Netflix's board.
• Ted Sarandos and Greg Peters are now co-CEOs of Netflix.
• Netflix has reported that engagement on its new ad tier is similar to engagement on its non-ad tiers.
• The company believes advertising will bring in $3 to $4 Billion.

Costco

• Costco has authorized a share buyback program worth up to $4B.