Amazon doubles down on profits, but misses estimates on revenue July 26, 2018 Amazon doubled consensus estimates on profits in its second quarter, as results released tonight revealed a staggering 1,157.5 per cent increase year-on-year in earnings per share. The company reported shareholder earnings for the quarter at $5.07 (£3.86), outperforming estimates collated by S&P Global Market Intelligence which predicted $2.54. In the same quarter in 2017, Amazon [...]
Sky post a solid set of figures July 26, 2018 Sky revealed a solid set of full-year results as earnings jumped by 9 per cent and like-for-like (LFL) revenue rose by 5 per cent. Average revenue per user held steady at £45. The company had a strong finish to the year as it added 20,000 new customers in the UK and Ireland. In the final three [...]
Coinbase announces a new deal to let you pay for your Uber with crypto | City A.M. July 25, 2018 Coinbase has today revealed a new partnership that will allow you to pay for physical goods and services from your favourite retailers with cryptocurrencies. The deal, which will be powered by WeGift, enables Coinbase users to buy an electronic gift card, load it with cryptocurrency from their Coinbase wallet and then use them at over [...]
Cowardice over the housing crisis is pushing young Brits towards the spectre of 1970s socialism July 23, 2018 As the government creaks alarmingly under the weight of Brexit, it may seem odd – if not downright contrarian – to kickstart a discussion about the housing crisis. For many Brexiteers such as myself, Brexit is not a moment in time or a destination in itself. It is not a chance to relive the past, [...]
Amazon’s (AMZN) cloud and online retail services to push results sky-high, while Spotify (SPOT) wanes on revenue | City A.M. July 22, 2018 After showcasing impressive sales and subscription numbers on Prime Day and briefly breaking $900bn (£691bn) in market value last week, Amazon has investors convinced of a strong second quarter ahead of its results on Thursday 26 July. Consumer estimates collated by S&P Global Market Intelligence put the company’s revenue at $53.4bn for the quarter, at [...]
Last Week in the City: August rate rise now less likely July 20, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (16 to 20 July 2018). The chances of an interest rate rise at the Bank of England’s August meeting appeared to recede this week after inflation data was more subdued than expected and retail sales data [...]
Microsoft soars past $100bn revenue mark, boosted by the power of the Cloud | City A.M. July 19, 2018 Software and PC giant Microsoft had its best year ever in 2018, beating analyst estimates to score $110.4bn (£85.1bn) in revenue at a year-on-year increase of 14 per cent. It reported $30.1bn in revenue for its fourth quarter, beating already high consumer estimates of $29.17bn. Diluted earnings per share came in at $1.15 for the [...]
Chinese tech giant Alibaba makes $1.43bn investment in digital advertising firm Focus Media | City A.M. July 19, 2018 Chinese tech group Alibaba has snapped up a minority stake in digital advertising firm Focus Media in a deal worth $1.43bn (£1.1bn). In a statement, the company said it would buy a 6.62 per cent in the firm, and could increase its stake by five per cent in the next year. Alibaba will also invest [...]
Time to put your phone down and ask Alexa instead | City A.M. July 19, 2018 A decade ago, if you asked anybody in the customer service game how consumers will interact with their favourite brands in the future, the lion’s share would have told you that actually having to speak to someone is going be unnecessary and uncommon – if not totally extinct. Now it’s becoming clear that the shift [...]
Brussels fines Google as the war continues | City A.M. July 19, 2018 Google has suffered another casualty in the battle between global tech giants and the EU. The European Commission yesterday fined the company a record €4.34bn for anti-competitive behaviour which competition commissioner Margrethe Vestager deemed “illegal”. The accusation is essentially that Google used the dominance of its Android operating system to promote its other products, such [...]