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App Economy Insights
$LLY Eli Lilly Q2 FY24:
Mounjaro, Zepbound, and Verzenio drive growth.
• Revenue +36% Y/Y to $11.3B ($1.3B beat).
• EPS $3.92 ($1.16 beat).
FY24 guidance (high end):
• Revenue +$3.0B to $46.6B.
• EPS +$0.29 to $14.00. https://t.co/iniz9J4GyF
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$LLY Eli Lilly Q2 FY24:
Mounjaro, Zepbound, and Verzenio drive growth.
• Revenue +36% Y/Y to $11.3B ($1.3B beat).
• EPS $3.92 ($1.16 beat).
FY24 guidance (high end):
• Revenue +$3.0B to $46.6B.
• EPS +$0.29 to $14.00. https://t.co/iniz9J4GyF
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AkhenOsiris
@JerryCap calls these 🚩and travel top, or something like that
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@JerryCap calls these 🚩and travel top, or something like that
As a CEO I think Brian Chesky is one of the best ones out there. Interesting comment on $ABNB just now: - Rihard Jarctweet
AkhenOsiris
$AMZN
Nikkei:
Amazon is making a push to acquire more sellers in China, aiming to expand its offerings of affordable products in the U.S. and elsewhere to take on Temu and other Chinese competitors.
At the end of July, Amazon held an event for online sellers in Shenzhen, Guangdong province, telling them it would support their efforts to enter the global market.
As examples of past successes in China, Amazon cited Anker, which makes chargers for smartphones and other devices, and robot vacuum cleaner manufacturer Roborock, both of which expanded around the world.
Amazon has been scaling back its consumer-oriented businesses in China. The company ended its domestic e-commerce service in China in 2019, and recently shut down its Kindle e-book service. It continues to provide cross-border e-commerce for overseas products to Chinese consumers, but its presence is weak.
Recently, however, Amazon has been reevaluating China as a source of goods for selling outside the country and is cultivating sellers there.
This year, it opened new offices in the inland cities of Wuhan, Hubei province, and Zhengzhou, Henan province. They support sellers in nearby cities and surrounding areas, seeking to do new business with small and medium-size sellers such as factories in rural areas.
For companies lacking the know-how to export overseas or develop their brand, the offices can help them by using Amazon's logistics network and other resources to sell their products worldwide.
Amazon's official account on the social networking app WeChat is also working to recruit sellers, holding live seminars almost every day for people considering listing products. "In 2024, we will hold dozens of events for thousands of sellers," Amazon China's vice president told Chinese media in May.
The company will also begin building a framework to deliver Chinese products to the U.S. at lower prices. It has been signing new contracts with Chinese retailers from this summer that allow inexpensive daily necessities and clothing to be shipped directly to U.S. consumers, according to some U.S. media.
Amazon is rushing to develop sellers in China over concerns that its presence in the U.S. and elsewhere could decline in the face of rising low-cost online shopping services from China like Temu and Shein.
According to a survey of 1,000 U.S. consumers conducted by Jungle Scout, an analytics service for sellers, 52% of people said they first searched for products on Amazon when shopping online in April to June, down nine percentage points from two years ago.
Previously, deliveries were made via Amazon's logistics facilities, but shipping directly is expected to reduce costs.
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$AMZN
Nikkei:
Amazon is making a push to acquire more sellers in China, aiming to expand its offerings of affordable products in the U.S. and elsewhere to take on Temu and other Chinese competitors.
At the end of July, Amazon held an event for online sellers in Shenzhen, Guangdong province, telling them it would support their efforts to enter the global market.
As examples of past successes in China, Amazon cited Anker, which makes chargers for smartphones and other devices, and robot vacuum cleaner manufacturer Roborock, both of which expanded around the world.
Amazon has been scaling back its consumer-oriented businesses in China. The company ended its domestic e-commerce service in China in 2019, and recently shut down its Kindle e-book service. It continues to provide cross-border e-commerce for overseas products to Chinese consumers, but its presence is weak.
Recently, however, Amazon has been reevaluating China as a source of goods for selling outside the country and is cultivating sellers there.
This year, it opened new offices in the inland cities of Wuhan, Hubei province, and Zhengzhou, Henan province. They support sellers in nearby cities and surrounding areas, seeking to do new business with small and medium-size sellers such as factories in rural areas.
For companies lacking the know-how to export overseas or develop their brand, the offices can help them by using Amazon's logistics network and other resources to sell their products worldwide.
Amazon's official account on the social networking app WeChat is also working to recruit sellers, holding live seminars almost every day for people considering listing products. "In 2024, we will hold dozens of events for thousands of sellers," Amazon China's vice president told Chinese media in May.
The company will also begin building a framework to deliver Chinese products to the U.S. at lower prices. It has been signing new contracts with Chinese retailers from this summer that allow inexpensive daily necessities and clothing to be shipped directly to U.S. consumers, according to some U.S. media.
Amazon is rushing to develop sellers in China over concerns that its presence in the U.S. and elsewhere could decline in the face of rising low-cost online shopping services from China like Temu and Shein.
According to a survey of 1,000 U.S. consumers conducted by Jungle Scout, an analytics service for sellers, 52% of people said they first searched for products on Amazon when shopping online in April to June, down nine percentage points from two years ago.
Previously, deliveries were made via Amazon's logistics facilities, but shipping directly is expected to reduce costs.
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AkhenOsiris
RT @cgaunerd: Goldman Sachs uses Open Source for GenAI.
- Leverages @AIatMeta Llama
- "The gap (with closed) is very very narrow"
- Keeps models close to home - VPCs in public clouds
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RT @cgaunerd: Goldman Sachs uses Open Source for GenAI.
- Leverages @AIatMeta Llama
- "The gap (with closed) is very very narrow"
- Keeps models close to home - VPCs in public clouds
NEW ODD LOTS:
One of the best AI episodes we've ever had.
@tracyalloway and I talked to Goldman's top engineer, CIO Marco Argenti, who came to the bank from AWS, about how the bank is actually using generative AI, and the results they're already getting. bloomberg.com/news/articles/… - Joe Weisenthaltweet
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AkhenOsiris
RT @AlphaSeeker84: Ugly..time to take it out back and shoot it
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RT @AlphaSeeker84: Ugly..time to take it out back and shoot it
$FSLY Earnings:
- Total revenue of $132.4 million, representing 8% year-over-year growth. Network services revenue of $104.2 million, representing 6% year-over-year growth. Security revenue of $25.4 million, representing 13% year-over-year growth. Network Services include solutions designed to improve performance of websites, apps, APIs, and digital media. Security includes products designed to protect websites, apps, APIs, and users.
- GAAP net loss per basic and diluted shares of $0.32, compared to $0.08 in the second quarter of 2023. Non-GAAP net loss per basic and diluted shares of $0.07, compared to $0.04 in the second quarter of 2023.
- GAAP gross margin of 55.1%, compared to 52.3% in the second quarter of 2023. Non-GAAP gross margin of 58.5%, compared to 56.6% in the second quarter of 2023.
- GAAP net loss of $43.7 million, compared to $10.7 million in the second quarter of 2023. Non-GAAP net loss of $9.3 million, compared to $4.6 million in the second quarter of 2023.
“We continued to drive customer acquisition in the second quarter, achieving 4% sequential growth in Enterprise customer count,” said Todd Nightingale, CEO of Fastly. “This, along with the acceleration of our go-to-market motions, contributed to revenue growth above the midpoint of our guidance.”
“However, we are experiencing demand challenges with some of our largest customers, and we are taking measures to align our cost structure accordingly,” continued Nightingale. “This change will enable focused investment in edge cloud innovation and continued go-to-market transformation.”
research.alpha-sense.com?doc… - AlphaSensetweet
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Hidden Value Gems
RT @HiddenValueGems: “Following a fall of almost 70% in its stock price since $WBD was formed in 2022, chief executive David Zaslav and chief financial officer Gunnar Wiedenfels have recently evaluated “all options” to arrest the decline, said two people familiar with the matter.”
“They are considering offers to sell Polish broadcaster TVN or a stake in Warner’s video games business, which holds valuable intellectual property to Harry Potter games.”
“WBD’s management hopes investors will remain patient as they work to turn around the company, they said, believing its true market capitalisation should be about $60bn, or $25 a share.”
via @FT
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RT @HiddenValueGems: “Following a fall of almost 70% in its stock price since $WBD was formed in 2022, chief executive David Zaslav and chief financial officer Gunnar Wiedenfels have recently evaluated “all options” to arrest the decline, said two people familiar with the matter.”
“They are considering offers to sell Polish broadcaster TVN or a stake in Warner’s video games business, which holds valuable intellectual property to Harry Potter games.”
“WBD’s management hopes investors will remain patient as they work to turn around the company, they said, believing its true market capitalisation should be about $60bn, or $25 a share.”
via @FT
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Hidden Value Gems
“Usually when I lose games, it's because people have looked deeply at something that I've intuitively sort of discarded. And I guess that's a way you can get an edge in business as well.”
- Magnus Carlsen
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“Usually when I lose games, it's because people have looked deeply at something that I've intuitively sort of discarded. And I guess that's a way you can get an edge in business as well.”
- Magnus Carlsen
An unusual guest at @NorgesBank podcast - probably the world’s best ever chess player @MagnusCarlsen on what investors can learn from chess.
🧵👇🏼
✅ “I think playing chess at an early age certainly teaches you to solve complex problems in a limited amount of time.
Continuing to only play chess probably will not get you far in business, but I think it's a good start.”
1/5 tweet
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Hidden Value Gems
At the beginning of 2023, the market estimate for aggregate 2025 “Hyperscaler” Capex was just $154bn. This estimate has increased by 51% to $232bn by now.
At the same time, “revenue revisions for 2025 for these four companies have increased by just 4% (and have actually fallen by 9%
since the start of 2022), meaning that their aggregate capex/sales ratio has increased from 10% in 2023 to an estimated 15% in 2025.”
h/t @Argonautcapital
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At the beginning of 2023, the market estimate for aggregate 2025 “Hyperscaler” Capex was just $154bn. This estimate has increased by 51% to $232bn by now.
At the same time, “revenue revisions for 2025 for these four companies have increased by just 4% (and have actually fallen by 9%
since the start of 2022), meaning that their aggregate capex/sales ratio has increased from 10% in 2023 to an estimated 15% in 2025.”
h/t @Argonautcapital
$MSFT has seen the largest increase in Capex/Sales ratio in the past 10 years (now at 18% compared to 3% in 2014).
$AAPL Capex/Sales has actually declined over the same period (from 3% to 2%). https://t.co/83npeBxqn6 tweet
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Quiver Quantitative
Nancy Pelosi made $4.1M in the stock market today, per our estimates.
This is twice as much as the average U.S. citizen will make in their lifetime. https://t.co/p48bR2K6di
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Nancy Pelosi made $4.1M in the stock market today, per our estimates.
This is twice as much as the average U.S. citizen will make in their lifetime. https://t.co/p48bR2K6di
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