The Daily Update: 26 July

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

South Africa

Anglo American PLC

• Anglo American plc announced that the value of rough diamond sales for De Beers sixth sales cycle of 2023, amounted to $410 million.
• This is compared to $456 million in the last cycle and $638 in the 6th cycle of 2022.

British American Tobacco PLC

• Revenue increased by 4.4% (2.6% at constant FX) driven by New Categories with revenue up 26.6% (constant FX) toward the GBP 5 billion target by 2025.
• Reported profit from operations up 61.4%, and adjusted profit up 3.6% (constant FX).
• Reported diluted EPS up 118% to 176.0p adjusted diluted EPS up 5.3% (constant FX).
• An interim dividend of 230.9p per ordinary share was declared for the year ended 31 December 2022, payable in four equal quarterly installments. The first two installments were paid in May and August 2023.

The U.S.

General Motors Earnings

• EPS of $1.91 beating expectations of $1.83.
• Revenue of $44.7B beating expectations of $42.4B.
• GM said it's looking to cut an additional $1B in fixed costs, ontop of the $2B the company already had targeted.

Coca-Cola Earnings

• EPS of $0.78 beating expectations of $0.72.
• Revenue of $12B beating expectations of $11.8B.

Google Earnings

• EPS of $1.44 beating expectations of $1.32.
• Revenue of $74.6B beating expectations of $72.8B.
• CFO Ruth Porat is stepping down from her role at the company.
• Porat will assume the newly created role of President and Chief Investment Officer of Alphabet and Google.

Microsoft Earnings

• EPS of $2.69 beating expectations of $2.54.
• Revenue of $56.2B beating expectations of $55.4B.
• Microsoft expect its growth from AI sales will be "gradual".