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Economic Updates

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Economic Updates

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The Impact of China’s Lockdown

China’s recent covid shutdown has wreaked havoc on its economy and the impact may be felt globally. With the world so integrated the second largest global economy suffering through a lockdown has the potential to severely disrupt the global economy. China has had to face its worst covid outbreak since the beginning of the pandemic. To curb the...

May 3, 2022
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Arista Networks tops estimates for Q1

Arista Networks Inc. reported its Q1 financial results after the closing bell in the US on Monday, beating Wall Street estimates. The US computer networking company reported revenue of $877.066 million (up by 31.4% year-over-year) vs. $856.14 million expected. Earnings per share reported at $0.84 per share (up by 35.48% year-over-year) vs. $0...

May 3, 2022
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QANTAS confirms its plan for Project Sunrise

The major Australian airline announced its commitment to direct flights from Sydney and Melbourne to mainland Europe and the East Coast of America by 2026. The commitment was announced on the back of encouraging quarterly figures due to a strong recovery in the travel sector and the easing of many Covid restrictions. Trading results QANTAS an...

May 2, 2022
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Amazon records its first loss since 2015

Amazon has followed some of the other tech sector players in providing weaker than expected quarterly results. The global giant saw its share price drop dramatically after hours in response to the release of the report. Key Report Figures Revenue at Amazon increased by just 7% which marks its lowest figure since the .com bust in 2001. The rev...

May 2, 2022
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NIO’s April delivery numbers are in

NIO Inc. reported its latest delivery numbers for April on Sunday. The Chinese electric vehicle company delivered 5,074 cars last month – a decrease of 28.55% year-over-year. Production and deliveries were impacted by supply chain issues and other constraints caused by COVID-19 outbreaks in China, according to the company. The deliveries in...

May 2, 2022
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Exxon Mobil latest results announced

Exxon Mobil Corporation reported its first quarter financial results before the opening bell on Wall Street on Friday. The oil and gas giant reported revenue of $90.5 billion in the first quarter of 2022 vs. $82.839 billion expected. Earnings per share came in below of analyst estimates at $2.07 per share vs. $2.23 per share expected. ''Th...

May 2, 2022
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AbbVie posts mixed results for Q1

AbbVie Inc. reported its financial results for the first quarter before the market open on Friday in the US. The biotechnology and pharmaceutical company reported revenue just shy of expectations at $13.538 billion (a 4.1% increase year-over-year) in Q1 vs. $13.662 billion expected. Earnings per share reported at $3.16 per share (a 9.3% incre...

May 2, 2022
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Chevron Q1 results are in

Chevron Corporation reported its latest financial results before the market open in the US on Friday. The company reported revenue of $54.373 billion in Q1, coming in above $51.14 billion expected by the analysts on Wall Street. Earnings per share reported at $3.36 per share vs. $3.41 per share expected. Mike Wirth, Chevron’s chairman an...

May 2, 2022
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Bristol-Myers Squibb exceeds Q1 expectations

US pharmaceutical company Bristol-Myers Squibb Co. reported first quarter financial results on Friday, beating analyst expectations. The company reported revenue of $11.648 billion (up 5% year-over-year) vs. $11.349 billion expected. Earnings per share reported at $1.96 per share (a 13% increase year-over-year) vs. $1.91 per share estimate. ...

May 2, 2022
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Apple exceeds Wall Street expectations

Apple Inc. reported financial results for its fiscal 2022 second quarter after the closing bell on Wall Street on Thursday. World’s largest company beat both revenue and earnings per share estimates. Total revenue reported at $97.278 billion in the quarter (a 9% percent year-over-year) vs. $94.034 billion expected. Earnings per share at $1....

April 29, 2022
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Amazon falls short in Q1

Amazon.com Inc. announced its first quarter results after the market close in the US on Thursday, falling short of Wall Street analyst expectations. The US online retailer reported revenue of $116.444 billion in the quarter vs. $116.45 billion estimate. Analysts were expecting earnings per share of $8.35 a share in Q1, however, the company re...

April 29, 2022
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McDonald’s delivers in Q1

McDonald's Corp. reported its Q1 financial results before the opening bell over in the US on Thursday. World’s biggest fast food company reported revenue of $5.666 billion in the quarter, beating analyst forecast of $5.57 billion. Earnings per share also topped analyst estimates at $2.28 per share vs. $2.17 per share expected. "In a quar...

April 29, 2022
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Microsoft Earnings impress after strong revenue from its cloud system

Technology leader Microsoft has released its quarterly report beating analysts’ expectations. The company's balance sheet and price surge were largely driven by strong revenue in its cloud computing Azure unit but was well supported by its other service areas. The results for the company's third quarter showed a double-digit growth figure with re...

April 28, 2022
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RBA rate day well in play after record CPI print

Going into yesterday's Aussie Inflation figures bond markets were pricing in around a 40% chance of a hike to 0.25% at next Tuesdays RBA May meeting. Most pundits including analysts at the big 4 banks thought this unlikely, with a move in June their predictions. Yesterday's eye watering CPI figure, took the market by surprise coming in at 2.1% f...

April 28, 2022
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Visa crushes Wall Street estimates

Visa Inc. announced its fiscal second quarter 2022 results after the closing bell on Wall Street on Tuesday. The financial services giant topped both revenue and earnings per share estimates, sending the share price higher on Wednesday. The company reported revenue of $7.189 billion in the quarter vs. $6.833 billion estimate. Earnings per ...

April 28, 2022
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