3QEarnings
Reckitt Benckiser Group Plc (LON:RKT)’s third quarter like-for-like (LFL) revenue rose 3.3%, with net revenue reaching £3.3bn. Trading has been better than Reckitt expected. Q3 2021 hedge fund letters, conferences and more Growth came from a balance between volume and price increases, while LFLs were up in all divisions and geographies, with North America the strongest region. Full year guidance has been upgraded, with revenue expected to grow 1-3%. Despite ongoing cost inflation, margin guidance remains unchanged. The shares were up 5% following the announcement. Reckitt Benckiser Sees Improv...
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HSBC Holdings plc (LON:HSBA)’s underlying revenue fell 1% to $12.2bn in the third quarter, reflecting negative market impacts in life insurance and lower trading revenues in debt markets following a particularly strong result last year. The global low interest-rate environment also continues to weigh. Q3 2021 hedge fund letters, conferences and more Provisions for bad loans swung from an $823m charge to $659m release, underpinning a 36% improvement in pre-tax profit of $1.6bn. CEO Noel Quinn said “we believe that the lows of recent quarters are behind us”, and the group announced a new $2bn sh...
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Barclays PLC (LON:BARC)’s total income rose 5.0% to £5.5bn in the third quarter, driven by non-interest income, which was up 11.9% to £3.5bn. Net interest income fell 5.6% to £1.9bn, as Barclays had lower unsecured loan balances. Q3 2021 hedge fund letters, conferences and more Pre tax profit rose to £2.0bn, up from £1.1bn, as credit impairment charges continued to fall. James Staley, CEO, said the group’s “seeing evidence of a consumer recovery and the early signs of a more favourable rate environment”. The shares were unmoved following the announcement. Barclays’ Diversified Business ModelSo...
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Tesla Inc (NASDAQ:TSLA) reported third quarter revenue of $13.8bn, a 57% year-on-year increase and modestly ahead of market expectations. Growth was driven by a 58% increase in automotive revenues, to £12.1bn, as overall vehicle deliveries in the quarter rose 73% to 241,391. Reduced revenue per vehicle reflects a change in mix from higher priced Model S/Xs to lower priced Model 3/Ys, as well as a 30% decline in automotive credits. Q3 2021 hedge fund letters, conferences and more A Loot At Tesla's EarningsOperating profits came in at $2.0bn, a 148% year-on-year increase but slightly less than t...
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Anglo-Dutch consumer products giant Unilever plc (LON:ULVR) today revealed that it is raising prices around the world, in response to rapidly rising costs.Q3 2021 hedge fund letters, conferences and more Overall, the group reported sales growth of 2.5% for Q3 and said that they were on course to hold margins broadly level for the full year, even as Unilever described cost pressures remaining “elevated”.Unilever's ResilienceCommenting on Unilever’s results, Steve Clayton, HL Select fund manager said: “These results show Unilever’s resilience, with a solid outcome in an especially challenging qu...
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Netflix Inc (NASDAQ:NFLX) reported a 9.4% year-on-year increase in global paid memberships in the third quarter, with growth driven by the Asia Pacific region. That takes the group to a total of 213.6m subscribers, slightly better than management had expected. Underlying average revenue per member rose 5%. The combination of more subscribers and higher average prices meant quarterly revenue rose 16.3% year-on-year to $7.5bn, broadly in line with market expectations. Q3 2021 hedge fund letters, conferences and more Quarterly operating profits rose 33.5% year-on-year to $1.8bn. That was signific...
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Procter & Gamble Co (NYSE:PG) has topped Wall Street estimates in terms of earnings and revenue as its fiscal first-quarter report was disclosed Tuesday. The company accrued revenue of $20.34 billion compared to $19.91 expectations, up 5% from last year. Q3 2021 hedge fund letters, conferences and more Fiscal ResultsAs reported by CNBC, the consumer giant also reported this quarter a net income of $4.11 billion, or $1.61 per share, down from $4.28 billion, or $1.63 per share, a year earlier, as “analysts surveyed by Refinitiv were expecting earnings per share of $1.59.” Organic sales grew with...
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Commenting on Intel’s earnings report and today’s trading, Gorilla Trades strategist Ken Berman said:Q3 2020 hedge fund letters, conferences and moreIntel Dropped By Double-Digits After Earnings ReportThe major indices are all trading slightly lower at midday following another volatile and active morning session on Wall Street. While stocks opened broadly higher thanks to the overnight rally in risk assets, a strong wave of selling pushed the large-cap benchmarks into the red in the first hour of trading. Intel (INTC, -11%) dropped by double-digits in the wake of its earnings report, weighing ...
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Commenting on Tesla’s positive earnings surprise and today’s trading Gorilla Trades strategist Ken Berman said:Q3 2020 hedge fund letters, conferences and moreTesla's Positive Earnings Surprise Gives Industries A Pre-Market BoostThe major indices are all trading slightly lower at midday following a very volatile and morning session on Wall Street. Today's earnings reports were overwhelmingly positive, with the likes of Coca-Cola (KO, +1.8%) and AT&T (T,+6.4%) beating expectations across the board, and thanks also to Tesla's (TSLA, +1.7%) positive earnings surprise from yesterday afternoon, a l...
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Commenting on Snap, Facebook and Alphabet Earnings, and today’s trading, Gorilla Trades strategist Ken Berman said:Q3 2020 hedge fund letters, conferences and moreSnap, Facebook and Alphabet Post Strong EarningsThe major indices are mixed and flat at midday following a quiet overnight session and a strong opening rally in stocks. White House chief of staff, Mark Meadows told the press that the two parties aim to reach "some kind of coronavirus stimulus deal" in the next 48-hours, and while a lot of analysts remain skeptical about a pre-election agreement, U.S. equities got a nice earl-day lift...
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