Advanced Micro Devices (AMD) shares dipped 5% in after hours trading, despite posting a 34% year-over-year revenue increase for the December quarter to US$10.3 billion, driven by record demand for its data centre and AI platforms. That surpassed analyst projections of $9.67 billion - as did its earnings per share (EPS) of $1.53, exceeding an expected $1.32. Revenue growth was led by AMD’s Da
United States President Donald Trump has signed a roughly US$1.2 trillion (A$1.711 trillion) spending package to end the partial U.S. government shutdown, hours after the House of Representatives passed the measure in a bipartisan vote. The House narrowly approved the bill 217–214 earlier on Tuesday, following Senate passage last week. Much of the federal government had been shuttered since Sat
PepsiCo beat earnings and revenue estimates last quarter, and plans to lower prices this year to boost its growth. Revenue was up 5.6% to US$29.34 billion, and above LSEG estimates of $28.97 billion. Earnings per share rose 11% to $2.26, besting estimates of $2.24. “PepsiCo’s fourth quarter results reflected a sequential acceleration in reported and organic revenue growth, with improvements
Private equity firms are finally selling assets that have been stuck on balance sheets for years, but the price they’re getting is turning heads in the financial world. Global data shows the number of private equity exits - when investors sell a company either to another buyer or through a listing - climbed around 5% last year to roughly 3,150 transactions. However, the total value of those
Yesterday’s decision by the Reserve Bank of Australia (RBA) to raise the cash rate by 25 basis points to 3.85% places greater pressure on Australia’s struggling listed property sector – aka Australian Real Estate Investment Trusts (A-REITs), with the broader benchmark – the S&P/ASX 200 Financials Ex-A-REIT (XXJ) index currently treading water. Admittedly, not all A-REITs are of the rent-collect
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Nintendo recorded a massive rise in revenue on Tuesday as the Nintendo Switch 2 became the fastest-selling console it ever released. The gaming giant’s revenue rose 86% year-over-year to 806.32 billion Japanese yen (US$5.2 million). Despite this jump, it still fell short of the 847.73 billion yen expected by analysts. However, net profit managed to jump 24% year-over-year to 159.93 yen an
Electronic Arts reported lower profit during its third quarter, despite a rise in revenue. The gaming company reported net income of US$88 million, or 35 cents per share, which was a drop from last year’s $293 million or $1.11 per share. This was driven by a rise in net bookings, which rose 38% to US$3.046 billion. Despite the drop in income, the company reported a 1% increase in revenue
More than 50,000 people have been evacuated from Morocco as flooding driven by weeks of heavy rain threatens to inundate the city. Authorities set up shelters and temporary camps and barred entry into Ksar el-Kebir as rising water levels in the Loukkos River spread across several neighbourhoods. People could only depart from the city, while some electricity was cut, and schools were ordered
The Reserve Bank of Australia (RBA) raised the official cash interest rate by 25 basis points to 3.85% on Tuesday to try to contain an increase in inflation. The announcement, which was widely expected, came at the end of the traditional two-day bi-monthly meeting of the RBA’s Monetary Policy Board. “While inflation has fallen substantially since its peak in 2022, it picked up materially in
Global manufacturing output increased in January, according to S&P Global reports, though new orders declined in the United States and the Eurozone. China’s manufacturing purchasing managers index rose to its highest level since October, while the United States matched its greatest output since 2022. The Eurozone’s manufacturing PMI index also rose from December, but remained in negative territ
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