Microsoft Q2 FY23 (24 January 2023)
Microsoft reported the slowest quarterly sales growth in six years due to a cooling economy and a slowing PC market. Revenue increased by 2% to $52.7 billion, which was below market expectations of $52.9 billion. Earnings per share of $2.32, were above estimates of $2.30. On a segmental basis, Server Product and cloud revenue increased by 20%, while Azure and other cloud services revenue increased by 31%, Commercial sales of Office increased by 7%, while consumer sales decreased by 25. Windows revenue from PC makers declined by 39% and revenue from search and advertising, as well as LinkedIn increased by 10%. Xbox content and services revenue decreased by 12%, while Xbox hardware revenue declined by 13%. The company returned $9.7 billion to shareholders in the form of share repurchases and dividends in the quarter. The shares of Microsoft were up 4% following the release of the report.
Tesla Q4 (25 January 2023)
Electric vehicle maker, Tesla, reported record revenue and analyst-beating earnings for its last quarter of 2022. Total revenues increased by 37% to $24,3 billion for the quarter, while earnings per share increased by 40% to $1.19. Automotive revenues (88% of total revenue) increased by 33%, and automotive gross profit increased by 13%, however, the automotive gross margin contracted by 466 basis points to 25.9%, the lowest in five years quarters as the company deals with price cuts for its vehicles amid lower consumer demand. Revenue for its energy generation and storage business was up, reaching $1.31 billion, however cost of revenue for the energy division was high, at $1.15 billion for the quarter. Automotive revenue for the year is up 51% to $71.5 billion, while automotive gross margin for the year is down 82 basis points to 28.5%.
LVMH Moet Hennessy Louis Vuitton S.A. Q4 (26 January 2023)
Luxury goods conglomerate LVMH recorded record revenues of €79.2 billion and profit from recurring operations of €21.1 billion, both up 23%, for the full 2022 year. Their Fashion & Leather segment reported a revenue increase of 25%, while Watches & Jewellery, and Perfume & Cosmetics reported revenue increases of 18% and 17% respectively, despite a weak China. Sales in Europe, the United States and Japan rose sharply from strong demand and the recovery of international travel.
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