Peloton keeps tumbling as it warns for Christmas slump November 3, 2022 Peloton has forecast second-quarter revenue below Wall Street estimates as the company continues its two year tumble from grace as the leading stay-at-home stock. The exercise bike maker said it expects current-quarter revenue between $700m and $725m, down from analysts’ estimates of $874m, according to Refinitiv data. In a shareholder letter this morning, the company [...]
Sorrell tells ad land to calm down about Elon Musk’s Twitter November 3, 2022 Despite the pandemonium caused by Elon Musk’s takeover of Twitter last week, there is one media mogul who seems largely unfazed by the news. S4 Capital chief and former WPP boss Sir Martin Sorrell underplayed the $44bn takeover and said that Facebook owner Meta was the one to watch when it came to the future [...]
Revenue climbs for Smith & Nephew as efficiency plan comes good November 3, 2022 Smith & Nephew reported steady revenue growth this morning, with its efficiency plan starting to pay off. Revenue climbed 4.8 per cent for the medical equipment maker to $1.25bn, with all franchises and geographies contributing. Full-year underlying revenue growth currently expected in middle of previously guided range of four to five per cent. Smith & [...]
BT hikes cost savings target as profits dip amid inflation and strike action November 3, 2022 BT confirmed it would be upping its cost savings target from by £500m this morning, as the UK’s biggest telecoms firm fends off inflationary pressure. In its half year results, the FTSE 100 company said profit before tax hit £800m, down 18 per cent on the previous year. Although revenue climbed a humble one per [...]
Royal Mail Black Friday strikes could spell mayhem for the whole delivery ecosystem November 3, 2022 ROYAL Mail strikes could cause mayhem for Christmas shopping, with 115,000 posties taking to the picket line at the end of this month. In an announcement late on Tuesday, the Communication Workers Union (CWU) said that it was moving ahead with four further days of strike action, including Black Friday, the largest online shopping day [...]
Tiktok’s new privacy update confirms staff across the world access your data November 2, 2022 TIKTOK told European users that their data can be accessed by employees in China, adding to the privacy concerns. The video sharing platform is updating its privacy policy to confirm that staff across the world can access user data. This means European user data could be accessed from China, Brazil, Canada, Israel, the US and [...]
The New York Times banks 180k new subscribers thanks to bundle approach November 2, 2022 The New York Times ups its full year forecast as the print and digital bundling strategy appears to be paying off. The media group added 180,000 online subscribers in the three months to September, bolstering third quarter estimates. The publication has been bringing together its traditional print and digital offerings, with its newly acquired sports site [...]
Cost of loving: Tinder boosted by paid matches despite spending squeeze November 2, 2022 MONEY can’t buy you happiness, but it may be able to buy you love, with Tinder owner cashing in on people looking for love despite cost of living woes. Match Group, which also owns Hinge and OKCupid, revealed that the number of paid subscriptions to the dating app rose seven per cent globally in July-September. [...]
Smurfit Kappa packages up revenue growth as it offloads cost inflation to customers November 2, 2022 Smurfit Kappa posted growth in revenue and profit for the first nine months of 2022 as it offloads higher prices onto customers. The packaging firm saw revenue jump 33 per cent to €9.72bn, while EBITDA grew by 43 per cent to €1.76bn. Smurfit Kappa chief Tony Smurfit said the company had recovered significant cost inflation [...]
Flying high: Ryanair breaks another monthly record with 15.7m passengers in October November 2, 2022 Ryanair has broken yet another monthly record, with 15.7 million passengers flying during the month of October. These figures were a record high for the budget airline, who said they were up 14 per cent on pre-COVID levels. The Irish firm has continued to post a steady incline in passenger numbers, with the last few [...]
