In today’s briefing:
- [Q2 Earnings Preview] Meta’s Ad Revenues Expected to Surge, But Rising Spend Remains a Concern
- Tech Supply Chain Tracker (25-Jul-2024): BOE boosts S. Korean suppliers, Wonik gets more orders
- IRDM: IOT Driven Quarter
- Pca Corp (9629 JP): Q1 FY03/25 flash update
- TSEM: Tower is Expected to Return to Growth in Q3 in Part From Silicon Photonics Usage in Data Centers Driven By AI
[Q2 Earnings Preview] Meta’s Ad Revenues Expected to Surge, But Rising Spend Remains a Concern
- Meta is expected to report a 58% YoY increase in EPS to $4.71, with revenue climbing 20% YoY to $38.29B, driven by robust ad performance.
- Meta plans a 20% cut in Reality Labs’ budget through 2026, aiming to save $3B while shifting focus to upcoming hardware production.
- In Q1, increased daily active users and a 6% rise in average ad prices have boosted Meta’s ad revenue, despite heightened competition and regulatory pressures. Likely to continue.
Tech Supply Chain Tracker (25-Jul-2024): BOE boosts S. Korean suppliers, Wonik gets more orders
- BOE’s B16 OLED commitment boosts Korean suppliers, Wonik to see surge in orders
- Offshore wind delays in Taiwan lead to focus on Japan and Korea for opportunities
- Onsemi chosen to power VW EV, Elon Musk supports Trump’s EV policies, tariff war on chips impacts consumers and companies
IRDM: IOT Driven Quarter
- IRDM reported second quarter results where an increase in IOT subscribers was paired with the Company buying back more stock.
- IOT has been a core underpinning for IRDM’s growth with the number of subscribers ramping this past quarter. IOT subscribers grew by 71 thousand in the quarter from Q1.
- IRDM reported second quarter revenue of $201.1 million compared to our estimate of $205.3 million. We had been expecting a higher engineering revenue estimate than IRDM generated.
Pca Corp (9629 JP): Q1 FY03/25 flash update
- Q1 FY03/25 revenue was JPY3.9bn (+14.5% YoY), operating profit JPY700mn (+63.6% YoY), and net income JPY455mn (+71.1% YoY).
- Revenue by product category: conventional software JPY156mn (-55.3% YoY), cloud services JPY2.2bn (+36.4% YoY), maintenance services JPY957mn (+14.1% YoY).
- The company revised PCA software prices in July 2023 and will end packaged software sales by March 2024.
TSEM: Tower is Expected to Return to Growth in Q3 in Part From Silicon Photonics Usage in Data Centers Driven By AI
- Tower is a pure-play analog semiconductor wafer foundry that manufactures SiGe, Silicon Photonics, MEMS, RF, embedded flash-based memory, analog/mixed-signal, and CMOS image-sensor devices in the US, Israel, Japan and Italy.
- It is serving markets in mobile such as RF High Position analog, as well as in CMOS image sensors, and power management.
- Its new fab in Italy in partnership with STMicro that has started shipping product and whose capacity will continue to ramp over the next two years.
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