Arrow Capital

Alibaba’s Mixed Results: A Closer Look 📊 Alibaba's ADRs showed mixed reactions after reporting 3.9% YoY revenue growth to 243.24 billion yuan, falling short of the 249.85 billion yuan estimate. While the cloud intelligence segment thrived on AI demand and international e-commerce losses narrowed, overall performance was uneven. Shares saw a modest 0.1% increase post-results. Taobao-Tmall’s GMV grew in the high single digits, but customer management revenue only rose by 1%. Non-GAAP net profit decreased less than expected due to cost optimization. Cloud revenue growth re-accelerated, yet international business slowed significantly. Adjusted EBITDA declined 1.7% YoY to 51.16 billion yuan, exceeding estimates. Despite completing $5.8 billion in share repurchases and positive momentum in cloud, analysts remain mixed, noting strong GMV growth but concerns over weak customer management revenue. #Alibaba #EarningsReport #CloudComputing #Ecommerce #FinancialResults #InvestmentInsights Disclaimer: https://lnkd.in/dYVDtiSB

Tencent's 2Q24 Results: A Strong Performance Amid Challenges 📈 Tencent (700 HK) reported strong set of 2Q24 results with revenue up 8% to RMB 161.1b and net income soaring to RMB 47.6b. The games segment led growth, with online game revenue rising 9% YoY, driven by strong domestic and international performance. Key contributors included DnF Mobile, Valorant, and PUBG Mobile. Online advertising grew 19%, with Video Accounts and Mini Programs performing well, though macro challenges impacted ad pricing and brand ads. Fintech revenue experienced low single-digit growth YoY, pressured by subdued consumption. Overall, Tencent's robust 2Q24 performance underscores the success of its strategies to boost domestic game revenue and leverage WeChat’s features for growth. Despite weaker advertising and fintech trends, Tencent’s less competitive gaming landscape and lower revenue cyclicality make it a top pick in the Chinese tech sector. 🚀 #Tencent #EarningsReport #TechStocks #GamingIndustry #AdTech #Fintech #ChinaTech

Arrow Capital #EarningsHighlight 📈 Shares of Alphabet fell ~2.2% in afterhours despite the tech giant reporting a solid set of results which beat estimates. Key Highlights: -Adj EPS of US$1.89 (+31% Y/Y) BEAT ests of US$1.84; Revenue of US$71.4Bil (+15% Y/Y) BEAT ests of US$70.7Bil -Notably the strong results were boosted by solid demand for its cloud-computing services, alongside continued resilience from its dominance in ads business -Still, despite the earnings beat, sentiment was weighed by YouTube revenue coming in lighter than expected and decelerated relative to first-quarter numbers. -Mgt however guide that YouTube had faced easier comparisons in the first quarter, when it was up against a period of negative growth -Alphabet executives also called out some trends that could impact margin expansion in the third quarter i.e. Headcount rise and greater depreciation and expenses Disclaimer: https://lnkd.in/dYVDtiSB #EarningsUpdate #AlphabetEarnings #GOOGEarnings #Q2EarningsUpdate

Arrow Capital #EarningsHighlight 📈 Salesforce Earnings: Shares fell ~19.7% yesterday  Results highlights: • EPS of US$2.44 (+44% YoY), 3% BEAT to consensus.   • Gross Profit margin of 76% (+180bps YoY), MISS consensus 79.45%  • Revenue of US$9.1bn (+11% YoY), 1% MISS, first miss since 2022.  • Total billings of US$6.1bn (+3% YoY), 8% MISS.  Other key takeaways:  • 2Q guidance: Revenue 9.2-9.25bn (7-8% YoY), further slow down from +11% in 1Q and MISS consensus 9.3bn; cRPO guidance at +10% YoY, MISS consensus 12% • Full year guidance is unchanged, which implies 2H to accelerate to +8-9% YoY in terms of revenue growth. The earnings affected sentiment in the software sector especially for the seat-based SaaS names including Workday, MSFT and NOW.  https://lnkd.in/dYVDtiSB  #EarningsUpdate #Salesforce #SalesforceQ1earnings

Arrow Capital #EarningsHighlight  📈 Nvidia Earnings: Shares rose ~5% in aftermarket hours  Nvidia delivered a strong F1Q beat-and-raise  Revenues +262% y/y to $26.04bn driven by Data Centre business surging 427% y/y / 23% qoq to $22.6bn;  Adjusted gross margin of 78.9% reached a new record for the company.  F2Q guidance $28.0bn in revenues and 75.5% gross margin also met elevated investor expectations.  During the call, management suggested that demand will outstrip supply “well into next year” and brought forward the timeline for its new Blackwell chip, which is in full production  At the same time, NVDA also announced a ten-for-one stock split (from 10th June) and raised quarterly cash dividend by 150%. Disclaimer: https://lnkd.in/dYVDtiSB  #Nvidia #EarningsSeason #NvidiaStockSplit

Arrow Capital #EarningsHighlight 📈 Tencent Earnings: Shares rose ~1% in Hong Kong this morning  1Q24 results a solid beat The strong beat was primarily driven by a better-than-expected domestic game business. HoK and Peacekeeper Elite recorded YoY grossing increases in March 2023, while several domestic titles (Fight of the Golden Spatula, CrossFire Mobile and Arena Breakout) registered record-high grossing during 1Q24. Disclaimer: https://lnkd.in/dYVDtiSB     #Tencentearnings #Tencent #EarningsReport 

Arrow Capital #EarningsHighlight: 📈 Airbnb Earnings: Shares tumbled ~6.9% Airbnb shares fell 6.9% after the home-rental company’s second-quarter revenue forecast trailed the average analyst estimate, ahead of the peak summer season. Last week, rival Booking Holdings issued weaker-than-expected guidance and Expedia Group lowered its full-year forecast. • FIRST QUARTER RESULTS: Revenue $2.14 billion, +18% y/y, estimate $2.06 billion. Gross booking value $22.9 billion, +12% y/y, estimate $22.32 billion. Adjusted Ebitda $424 million, +62% y/y, estimate $326.3 million. Adjusted Ebitda margin 20% vs. 33% q/q, estimate 15.9%. EPS 41c vs. 18c y/y, estimate 30c. Nights and experiences booked 132.6 million, +9.5% y/y, estimate 131.81 million. • SECOND QUARTER FORECAST: Sees revenue $2.68 billion to $2.74 billion, estimate $2.74 billion. Disclaimer: https://lnkd.in/dYVDtiSB #Airbnbresults #Airbnbearnings #Airbnb #EarningsSeason #EarningsReport

Arrow Capital #EarningsHighlight: 📈 Uber Earnings: Shares tumbled ~5.7% Key Highlights: • Adj EPS of USD(0.32) MISSED ests of US$0.26; Revenue of US$10.13Bil (+15% Y/Y) BEAT ests of US$10.1Bil • Bookings growth and guidance also slightly missed ests due to earlier holidays and weaker demand in certain markets i.e. Latin America • Notably the unexpected net-loss were due to “one-offs” legal charges and provisions and those related to fair valuation of certain company investments. • On the positives, Uber continues to balance growth/profitability across its platform with a multi-product Mobility offering driving growth in new users. Disclaimer: https://lnkd.in/dYVDtiSB #uberearnings #earningsseason #uber