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β App Economy Insights
$META Meta Q2 FY24:
π¨βπ©βπ§βπ¦ Daily active people +7% Y/Y to 3.27B.
π Ad impressions +10% Y/Y.
β’ Revenue +22% Y/Y to $39.0B ($0.8B beat).
β’ Operating margin 38% (+9pp Y/Y).
β’ EPS $5.16 ($0.40 beat).
β’ FY24 Capex $37-40B (prev. $35-$40B). https://t.co/czFweYj0A0
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$META Meta Q2 FY24:
π¨βπ©βπ§βπ¦ Daily active people +7% Y/Y to 3.27B.
π Ad impressions +10% Y/Y.
β’ Revenue +22% Y/Y to $39.0B ($0.8B beat).
β’ Operating margin 38% (+9pp Y/Y).
β’ EPS $5.16 ($0.40 beat).
β’ FY24 Capex $37-40B (prev. $35-$40B). https://t.co/czFweYj0A0
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Offshore
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β App Economy Insights
July report is out!
π Nearly 100 earnings visuals.
From π± $ARM to π³ $V.
Get your insights now! π
https://t.co/bD23VXk9tt
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July report is out!
π Nearly 100 earnings visuals.
From π± $ARM to π³ $V.
Get your insights now! π
https://t.co/bD23VXk9tt
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β App Economy Insights
$AMZN Amazon Q2 FY24:
β’ Revenue +10% Y/Y to $148B ($0.8B miss).
β’ Operating margin 10% (+4pp Y/Y).
β’ FCF $53B TTM.
βοΈ AWS:
β’ Revenue +19% Y/Y to $26.3B.
β’ Operating margin 36% (+11pp Y/Y).
Q3 FY24 Guidance:
β’ Revenue ~$154-$158.5B ($158.3B expected). https://t.co/8fKQ6G6XKK
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$AMZN Amazon Q2 FY24:
β’ Revenue +10% Y/Y to $148B ($0.8B miss).
β’ Operating margin 10% (+4pp Y/Y).
β’ FCF $53B TTM.
βοΈ AWS:
β’ Revenue +19% Y/Y to $26.3B.
β’ Operating margin 36% (+11pp Y/Y).
Q3 FY24 Guidance:
β’ Revenue ~$154-$158.5B ($158.3B expected). https://t.co/8fKQ6G6XKK
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Offshore
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β App Economy Insights
$AAPL Apple Q3 FY24 (June quarter):
π³ Services +14% Y/Y to $24.2B.
π± Products +2% Y/Y to $61.6B.
β’ Revenue +5% Y/Y to $85.8B ($1.4B beat).
β’ Operating margin 30% (+1pp Y/Y).
β’ EPS $1.40 ($0.06 beat). https://t.co/lVX92eJfuB
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$AAPL Apple Q3 FY24 (June quarter):
π³ Services +14% Y/Y to $24.2B.
π± Products +2% Y/Y to $61.6B.
β’ Revenue +5% Y/Y to $85.8B ($1.4B beat).
β’ Operating margin 30% (+1pp Y/Y).
β’ EPS $1.40 ($0.06 beat). https://t.co/lVX92eJfuB
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β Brandon Beylo
RT @marketplunger1: My wife watching me buy more junior mining stocks. https://t.co/U9hrUjchMl
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RT @marketplunger1: My wife watching me buy more junior mining stocks. https://t.co/U9hrUjchMl
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β Hidden Value Gems
GMO highlighted the key differences between the Top 10 stocks today and in 2000:
π§΅ππΌ
1οΈβ£ βIn 2000, the price-to-earnings ratio of the top 10 was 60x. Earnings had increased by 22% pa in the previous 5 years. Even if the fundamental return expectation of 19% p.a. had been delivered and stock prices held, the top 10βs multiple would have still exceeded 25x by 2005.β
1/4
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GMO highlighted the key differences between the Top 10 stocks today and in 2000:
π§΅ππΌ
1οΈβ£ βIn 2000, the price-to-earnings ratio of the top 10 was 60x. Earnings had increased by 22% pa in the previous 5 years. Even if the fundamental return expectation of 19% p.a. had been delivered and stock prices held, the top 10βs multiple would have still exceeded 25x by 2005.β
1/4
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β Librarian Capital
Reversal in UK bank stocks after yesterday's rate cut
NatWest $NWG down 5.7%
Now 1.1x P/TBV (304p), 5.2% Dividend Yield (17.5p)
Lloyds $LLOY down 8.1%
Now 1.1x P/TBV (496.6p), 5.2% Dividend Yield (2.9p)
Previous research via link on our profile https://t.co/DjSGovL3Dn
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Reversal in UK bank stocks after yesterday's rate cut
NatWest $NWG down 5.7%
Now 1.1x P/TBV (304p), 5.2% Dividend Yield (17.5p)
Lloyds $LLOY down 8.1%
Now 1.1x P/TBV (496.6p), 5.2% Dividend Yield (2.9p)
Previous research via link on our profile https://t.co/DjSGovL3Dn
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Offshore
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β Librarian Capital
Amazon 24Q2 AWS Net Sales +19% y/y to $26.3bn
$9.33bn EBIT implies 35.5% margin
So $AMZN AWS grew less than Big 3 peers
$MSFT Azure & Other Cloud Services sales +29% y/y
$GOOG Google Cloud revenues +29% to $10.3bn in Q2
EBIT nearly tripled ($1.17bn) but still just 11.3% margin https://t.co/MJ0HK9BTnC
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Amazon 24Q2 AWS Net Sales +19% y/y to $26.3bn
$9.33bn EBIT implies 35.5% margin
So $AMZN AWS grew less than Big 3 peers
$MSFT Azure & Other Cloud Services sales +29% y/y
$GOOG Google Cloud revenues +29% to $10.3bn in Q2
EBIT nearly tripled ($1.17bn) but still just 11.3% margin https://t.co/MJ0HK9BTnC
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