All posts tagged: plunges

Roblox reports Q1 bookings of 3.8M, up 19%, but stock plunges on weak Q2 outlook

Roblox reports Q1 bookings of $923.8M, up 19%, but stock plunges on weak Q2 outlook

[ad_1] Join gaming leaders live this May 20-21 in Los Angeles to examine the strategies needed to adapt and excel in an ever evolving landscape, featuring insights from leading voices and thought leaders in the industry. Register here. Roblox reported that its first quarter bookings reached $923.8 million, up 19% at a time when much of the game industry has reported weak results. However, the company’s stock price has fallen 27.36% in trading to $28.32 a share this morning due to a weak financial outlook. Based on the midpoint of its guidance, Roblox expects bookings in the second quarter of $885 million, compared to the consensus estimate of $929 million. For the full year, Roblox forecast bookings of $4.05 billion, which missed the expected target of $4.18 billion. The company also saw its daily active users in the quarter hit 77.7 million, up 17% from a year ago. The company reported a net loss of $270.6 million in the quarter, while adjust earnings before interest, taxes, depreciation and amortization (EBITDA) was a loss of $6.9 …

Berkshire’s Profit Plunges 64% on Portfolio Holdings as Buffett Sells Apple

Berkshire’s Profit Plunges 64% on Portfolio Holdings as Buffett Sells Apple

[ad_1] OMAHA, Neb. (AP) — Berkshire Hathaway’s first quarter profits plummeted along with the paper value of its investments, but the company said Saturday that most of the businesses it owns outright performed well. The company reported reported a $12.7 billion profit, or $8.825 per Class A share, in the quarter. That’s roughly one-third of last year’s $35.5 billion, or $24,377 per A share. The figures were heavily influenced by a large drop in the paper value of Berkshire’s investments. Buffett encourages investors to pay more attention to the conglomerate’s operating earnings that exclude the investment figures. Operating earnings jumped 39% to $11.222 billion from last year’s $8.065 billion as its insurance companies showed strong results. On a per share basis, this year’s first quarter operating figure amounts to $7,796.47 per Class A share, beating three analysts’ estimates by FactSet Research, who predicted $6,701.87 per Class A share. Buffett was a net seller of $17 billion in stocks during the quarter, including trimming about 13% of Berkshire’s massive Apple stake. At $135.4 billion, the iPhone …

King Charles dealt huge blow as support for the monarchy plunges: poll | Royal | News

King Charles dealt huge blow as support for the monarchy plunges: poll | Royal | News

[ad_1] The British public’s support for the monarchy has dropped to a historic low as just over half, 54 percent, think it is “very” or “quite important” for Britain to have a monarchy, a new poll reveals as the Royal Family is faced with big challenges following King Charles and Princess Kate’s cancer diagnoses. A survey by the National Centre for Social Research (NatCen) shows that this is the lowest proportion on record since 1983, when nearly nine in 10 (86 percent) said that it was important to have a monarchy. According to the research, support for the monarchy has been in decline over the last decade or so, with a temporary reversal after Elizabeth’s death in September 2022, shortly after which more than six in 10 felt that having a monarchy was important. But the decline has returned since King Charles’s ascension to the throne, as a quarter of Brits (25 percent) now believe that either “the monarchy should be abolished” or that it is “not at all important”, matching a figure first recorded …

China bubble tea chain Chabaidao plunges on Hong Kong debut

China bubble tea chain Chabaidao plunges on Hong Kong debut

[ad_1] HONG KONG: Shares in Chinese bubble-tea chain Baicha Baidao plunged nearly 40 per cent on its first trading day in Hong Kong on Tuesday, in a fresh blow to the finance hub’s efforts to revive its markets. The Chengdu-based company, which is also known as Chabaidao, raised about HK$2.59 billion (US$330 million) during its November initial public offering – with no others topping it since. But soon after opening it plunged from its HK$17.50 listing price to HK$10.80, marking a drop of 38 per cent, before paring some of the losses to end at HK$12.80. The plunge marked the worst debut since 2015 for a company that had raised at least US$300 million, according to Bloomberg. Another debutant, Tianjin Construction Development Group, tanked more than 30 per cent, having raised about US$20 million in its IPO. The losses dealt a blow to the government’s plan to help reboot Hong Kong’s trading market, which has seen a drop in fundraising through new listings for four years in a row. But Hong Kong’s security chief-turned-city leader …

Electric car demand plunges across Europe

Electric car demand plunges across Europe

[ad_1] Thanks for joining me. Electric vehicle sales plunged in Europe last month as demand particularly dried up in Germany. Sales of battery-powered cars dropped by 11.3pc, with sales in Europe’s largest economy plummeting by 28.9pc, according to the European Automobile Manufacturers’ Association. 5 things to start your day  1) Royal Mail faces foreign ownership threat after Czech billionaire’s takeover bid | Daniel Kretinsky is aiming to assume full control of postal service’s parent company IDS 2) Hunt vows to go ‘further and faster’ on bringing down benefits bill | Chancellor warns against unsustainable rise in welfare costs amid worklessness crisis 3) Newspaper state ownership rules to be watered down | Chancellor warns against unsustainable rise in welfare costs amid worklessness crisis 4) Bailey predicts ‘strong drop’ in inflation next month | Britain faces just one rate cut this year as price rises fail to cool quickly enough 5) Lord Mandelson nets £10m in deal with former Obama aide | Former minister rules out a return to politics after selling 20pc stake in lobbying firm …

8-year-old is the only survivor after bus plunges off cliff in South Africa, killing 45 people

8-year-old is the only survivor after bus plunges off cliff in South Africa, killing 45 people

[ad_1] CAPE TOWN, South Africa — A bus carrying worshippers headed to an Easter festival plunged off a bridge on a mountain pass and burst into flames in South Africa on Thursday, killing at least 45 people, authorities said. The only survivor of the crash was an 8-year-old child, who was receiving medical attention, according to authorities in the northern province of Limpopo. The Limpopo provincial government said the bus veered off the Mmamatlakala bridge and plunged 164 feet into a ravine before busting into flames. Search operations were ongoing, the provincial government said, but many bodies were burned beyond recognition and still trapped inside the vehicle. Authorities said they believe the bus was traveling from the neighboring country of Botswana to the town of Moria, which hosts a popular Easter pilgrimage. [ad_2] Source link

Princess Kate’s Cancer Diagnosis Plunges Royal Family Into Uncertainty

Princess Kate’s Cancer Diagnosis Plunges Royal Family Into Uncertainty

[ad_1] Catherine, Princess of Wales, has been diagnosed with cancer and has begun chemotherapy, she announced on Friday, putting a grim coda on months of rumors about her condition and plunging Britain’s royal family into deep uncertainty as two of its most senior figures grapple with grave health concerns. Her diagnosis follows that of King Charles III, who announced his own cancer diagnosis and treatment in early February. Like the king, Catherine, 42, did not specify what type of cancer she had, nor what her prognosis was. Speaking in a prerecorded video released on Friday evening, Catherine said, “It has been an incredibly tough couple of months for our entire family” as she described having major abdominal surgery in January and then learning through subsequent tests that she had a form of cancer. Looking fatigued but determined to express hope about her recovery, Catherine said she and her husband, Prince William, were helping their three children, George, Charlotte, and Louis, cope with having a sick mother. “This of course came as a huge shock,” Catherine …

US Banks See Large Deposit Inflows As Bailout Fund Expires, RRP Liquidity Plunges

US Banks See Large Deposit Inflows As Bailout Fund Expires, RRP Liquidity Plunges

[ad_1] With The Fed’s bank bailout facility now expired (and the one-year term loans starting to mature), it is perhaps not surprising that we saw a very large liquidity drain from The Fed’s Reverse Repo facility in the last two days – over $107BN pulled out to fresh cycle lows… Source: Bloomberg Total deposits – on a seasonally-adjusted basis – rose by $54BN last week… Source: Bloomberg On a non-seasonally-adjusted basis – remind us again how actual deposits are seasonally-adjusted – banks saw and even larger $82BN deposit inflow… Source: Bloomberg Excluding foreign bank deposits, domestic banks saw seasonally-adjusted deposits rise $60BN (Large Banks +$59BN, Small Banks +$0.9BN), and non-seasonally-adjusted deposits rose $94BN (Large Banks +$73BN, Small Banks +$21BN)… Source: Bloomberg However, rather oddly, on the other side of the ledger, loan volumes plunged despite the surge in deposits (Large bank loan volumes tumbled $15BN while Small bank loan volumes rose by $0.3BN)…. Source: Bloomberg And finally, as if you needed a reminder after the recent NYCB debacle-and-bailout – the regional bank crisis is still …

USDJPY Plunges As Soaring Japanese Wage Growth Sparks Surge in BoJ Rate-Hike Odds

USDJPY Plunges As Soaring Japanese Wage Growth Sparks Surge in BoJ Rate-Hike Odds

[ad_1] There was notable weakness in Japanese stocks overnight after Japanese wage growth accelerated to the fastest clip since June. While the basic wage trend unchanged, overall wage growth was lifted by the special wage: According to monthly wage data released by the Ministry of Health, Labour and Welfare (MHLW), nominal cash wage growth accelerated to +2.0% yoy in January, from +0.8% in December. Growth on a reference “same sample” basis (unaffected by changes in the survey sample) was +2.0%, with growth remaining at the same level since November last year. The special wage rose sharply by +16.2% yoy and lifted overall wage growth by +0.6 pp. The special wage tends to fluctuate sharply and is particularly susceptible to sample bias. Growth in the special wage on a reference “same sample” basis rose only +5.9%. Source: Goldman Sachs The picture is not a pretty one for the average Jo-san as ‘real’ wages continue to sink… Source: Goldman Sachs …which has prompted labor unions to make the strongest pay demands in three decades. Rengo, Japan’s largest labor union …