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On November 19th, Goldman Sachs reported that Xiaomis (01810.HK) third-quarter results slightly beat expectations, with revenue growing 22% year-on-year, 2% higher than the banks forecast, driven by higher revenue from internet and electric vehicles. Adjusted net profit grew 81% year-on-year, 12% and 15% higher than the banks and market expectations, respectively, boosted by improved IoT gross margins and increased other and investment income. The bank forecasts smartphone shipments of 171 million units in 2025, decreasing to 169 million units in 2026, with average selling prices rising 3% in the fourth quarter of this year and 5% next year. Regarding electric vehicles, the bank raised its 2025 delivery forecast to over 400,000 units, while maintaining its 2026 forecast at 800,000 units. Meanwhile, the bank lowered its 2026-27 net profit forecasts by 4-5% to reflect greater pressure on smartphone gross margins; the 2025 net profit forecast was raised by 3% due to the better-than-expected third-quarter results. The target price was lowered from HK$56.5 to HK$53.5, with a "buy" rating.November 19th - Following a significant price increase in DRAM, flash memory prices have also risen across the board. According to the latest CFM flash memory market quotes, on November 19th, flash wafer prices increased across the board, with the largest increase reaching 38.46%. Specifically, 1Tb QLC rose 25.00% to $12.50, 1Tb TLC rose 23.81% to $13.00, 512Gb TLC rose 38.46% to $9.00, and 256Gb TLC rose 14.58% to $5.50.1. WTI crude oil futures trading volume was 782,512 lots, an increase of 125,257 lots from the previous trading day. Open interest was 1,867,735 lots, a decrease of 15,207 lots from the previous trading day. 2. Brent crude oil futures trading volume was 154,199 lots, an increase of 46,083 lots from the previous trading day. Open interest was 232,136 lots, an increase of 1,383 lots from the previous trading day. 3. Natural gas futures trading volume was 633,999 lots, an increase of 78,445 lots from the previous trading day. Open interest was 1,506,606 lots, a decrease of 9,583 lots from the previous trading day.November 19th - StoneX senior market analyst Matt Simpson stated that gold futures may be poised for a short-term rebound. The daily chart has formed a bullish hammer candlestick pattern for the second consecutive trading day. Although the daily Relative Strength Index (RSI) has not yet entered oversold territory, it is approaching that threshold, suggesting that a short-term low may have already occurred or is about to form.On November 19th, the World Platinum Investment Council (WPIC) stated that the platinum market is likely to balance in 2026 as tariff concerns ease, while 2025 is expected to see a supply deficit for the third consecutive year. The WPIC projects a deficit of 692,000 ounces in the platinum market in 2025, a downward revision of 158,000 ounces from its previous forecast, primarily due to increased mine production and recycled supply. The WPIC anticipates a slight surplus of approximately 20,000 ounces in the platinum market in 2026, with total supply increasing by 4% year-on-year to 7.404 million ounces. Mine supply is expected to increase by 2% to 5.622 million ounces. This balance expectation is based on the assumption that the CME/NYMEX exchange inventory buildup from 2025 will be digested in 2026, while US trade policy will become clearer. However, if trade tensions persist, platinum supply may still fall short of demand in 2026.

Pinterest's Revenue Surpasses Its Competitors' in Order to Stand Out in the Social Media Gloom

Skylar Williams

Oct 28, 2022 15:06

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Pinterest Inc. beat quarterly sales estimates on Thursday, making it a rare bright spot in the generally bleak social media sector and sending the image-sharing platform's shares 15% higher after hours.


The income of online companies ranging from Alphabet (NASDAQ:GOOGL) Inc. to Meta Platforms Inc. and Snap Inc. has been badly impacted by a decline in advertising budgets caused by decades-long inflation (NYSE:SNAP).


Despite the general industry slowdown, Pinterest's (NYSE:PINS) advertising revenue remained robust, and customers continued to use its image-sharing platform to find inspiration for activities such as home repair and recipe-based cooking.


Global monthly active Pinterest users climbed 2.8% sequentially to 445 million, above Factset's expectation of 437,4 million.


On a conference call with analysts, Apple Inc's (NASDAQ:AAPL) chief financial officer Todd Morgenfeld indicated that the September release of iOS 16 helped the company's growth.


According to him, the majority of Pinterest's ad sales come from e-commerce and consumer goods, which has contributed to the stability of ad revenues.


"What harmed Pinterest previously (during the epidemic) is helping them now," said Thomas Forte, an analyst at D.A. Davidson, in reference to the company's focus on retail and consumer products.


Since growth is decelerating, the greatest opportunity for the future is to devise a plan to generate incremental engagement on the platform, raise the number of monthly active users, and increase monetization.


In the third quarter, Pinterest's revenue climbed by 8% to $684,6 million. According to Refinitiv, while the growth rate was the slowest in more than two years, the total came in well above the average analyst projection of $666.8 million.


The average global revenue per user rose 11% to $1.56. It produced an adjusted profit per share of $0.11, exceeding analyst expectations of $0.06.

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