In today’s briefing:
- Anycolor (5032) – Great Quarter Guys! Again. Context Issues. Still.
- XL Axiata (EXCL IJ) – Linked Up for Future Growth
- TikTok Launches In-App Shopping Feature in the U.S.
- Huawei Tech-Powered EV Brand Rolls Out Upgraded Luxury SUV
- Pegasystems Inc.: Their Focus on Pega Cloud ACV is Rewriting the Rulebook! – Major Drivers
- Company Update – Epsilon Net S.A.
- Xerox Holdings Corporation: Decoding Their Strategy to Slash Costs & Gain A Strong Position In Cloud Print! – Major Drivers
- Broadcom Inc.: Understanding Their Recent Networking Boom and Beyond! – Major Drivers
Anycolor (5032) – Great Quarter Guys! Again. Context Issues. Still.
- Nine months ago I first wrote on Anycolor (5032 JP). I thought the guidance growth pattern and valuations remarkable. Results handily beat guidance. Now we’re in Year 2 of guidance.
- After the first full year listed, FY2024 guidance was for +30% in revenue to ¥33bn, and +35% growth in OP. For Q1, reported yesterday, actual results were +51% and +91%.
- The stock is popping this AM, but it is still cheap vs growth rates and margins. There are, notably, still “context issues” here. They merit some consideration (and investigation).
XL Axiata (EXCL IJ) – Linked Up for Future Growth
- XL Axiata (EXCL IJ) continues to impress with its growth in revenues and data, driven by its 4G focus and high-quality network, with improving margins at the same time.
- The XL convergence story continues to build, with convergence penetration increasing but the real kicker wILL come once the restructuring with Link Net completes but benefits are already accruing.
- XL Axiata remains the purest data player in Indonesia, with convergence set to be the next driver. Valuations are attractive on 4.4x FY2024E EV/EBITDA with strong growth ahead.
TikTok Launches In-App Shopping Feature in the U.S.
- In the face of mounting American political and regulatory pressure, the Chinese video app TikTok officially launched an online shopping feature in the U.S., aiming to cash in on its popularity among 150 million American users.
- TikTok Shop will give brands, merchants, and creators the tools to sell directly through content on the app, the ByteDance Ltd.-owned enterprise said in a press release.
- Users will now find a “Shop” button prominently displayed in certain videos and can buy tagged products directly from videos and livestreaming.
Huawei Tech-Powered EV Brand Rolls Out Upgraded Luxury SUV
- Huawei Technologies Co. Ltd. and its auto partner Seres Group Co. Ltd. (601127.SH +10.01%) launched an upgraded version of the Aito M7 electric SUV on Tuesday, marking the latest push by the tech giant into China’s highly competitive auto market.
- With a starting price of 249,800 yuan ($34,280), deliveries of the luxury electric vehicle (EV) will begin immediately, Huawei said in a press release. The company is also offering a discount of 33,000 yuan to customers who place their orders before Oct. 7.
- The model, which comes in five variants, is also equipped with Huawei ADS 2.0, the latest generation of its automated driving software and a digital cockpit powered by its Harmony operating system, the company said.
Pegasystems Inc.: Their Focus on Pega Cloud ACV is Rewriting the Rulebook! – Major Drivers
- Pegasystems delivered disappointing results as the company could not meet Wall Street’s revenue and earnings expectations.
- Pega achieved a remarkable feat in the first half of 2023 by producing $114 million in cash flow from operations and $123 million in free cash flow.
- The free cash flow dollars produced in the first half of the year was $123 million.
Company Update – Epsilon Net S.A.
- EPSILON NET is a leading provider of Information Technology and related services in the Greek market.
- With its broad portfolio of software applications and IT systems, the Company generates revenues from the segments of ERP, Accounting, HR, E-Invoicing and Educational Services.
- EPSILON NET operates via 24 subsidiaries while it has a workforce of 1,200 employees and a network of +500 partners / resellers.
Xerox Holdings Corporation: Decoding Their Strategy to Slash Costs & Gain A Strong Position In Cloud Print! – Major Drivers
- Xerox Holdings Corporation delivered mixed results for the previous quarter, with revenues below the analyst consensus.
- This quarter, Quocirca recognized Xerox as a leader in cloud print services, recognizing the company for its breadth of customer service as well as its strategic vision.
- Xerox Holdings received the renewal of a leading healthcare service company this quarter, boosting the yearly contract value by about 40%.
Broadcom Inc.: Understanding Their Recent Networking Boom and Beyond! – Major Drivers
- Broadcom managed to exceed analyst expectations in terms of revenue as well as earnings.
- Infrastructure software revenue increased 5% yearly to 9 billion, while semiconductor solutions revenue gained 5% yearly to $6.9 billion.
- Wireless revenue accounted for 24% of semiconductor revenue in the quarter and was up 4% sequentially but flat yearly.
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