Uber revenue + 14 % – loss widens to 5,4 billion

The ride-hailing company Uber (UBER) reported its second quarter figures, ending June 30.  According to the company info, the revenue rose 14 % to 3,1 billion dollars, while the loss increased to 5,4 billion dollars from 739 million loss a year earlier. Diluted net loss was 4,72 dollars per share, while it was -2,01 dollars a year ago.

According to Uber, the operating loss includes for example the driver compensation of nearly 300 million dollars related to the IPO process.

The ridesharing revenue rose 2 % to 2,3 billion dollars during the quarter and the Uber Eats revenue rose 72 % to 595 million dollars.

-Our platform strategy continues to deliver strong results, with Trips up 35% and Gross Bookings up 37% in constant currency, compared to the second quarter of last year,” said Dara Khosrowshahi, CEO, in the press release.

-In July, the Uber platform reached over 100 million Monthly Active Platform Consumers for the first time, as we become a more and more integral part of everyday life in cities around the world, the CEO said.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Business Finance Tech

Ralph Lauren Q1 revenue + 3% to 1,4 billion dollars

The US premium lifestyle company Ralph Lauren Corporation (NYSE:RL) reported earnings per diluted share of $1.47 for the first quarter of Fiscal 2020 and revenue increase 3 % to 1,4 billion dollars.

-Our Company continues to evolve with the world around us while staying true to our values and creating inspiring style that endures, said Ralph Lauren, Executive Chairman and Chief Creative Officer.

-We delivered first quarter results in line with our overall expectations, with better than expected operating margin and double-digit EPS growth, said Patrice Louvet, President and Chief Executive Officer.

According to him, the performance of Ralph Lauren was driven by strong continued momentum in the company´s international markets and expense discipline across the organization.

Mainland China was one of the fastest growing markets, nearly 30 % revenue growth the company said. In Europe the growth was 7 % and in Asia 8%.

In the first quarter of Fiscal 2020, revenue increased by 3% to $1.4 billion on a reported basis and was up 5% in constant currency, driven by positive results across regions. Foreign currency negatively impacted revenue growth by approximately 220 basis points in the first quarter.

Revenue performance for the Company’s reportable segments in the first quarter compared to the prior year period was as follows:

Gross profit for the first quarter of Fiscal 2020 was $921 million and gross margin was 64.4%, the company said.

Gross margin of Ralph Lauren benefited from favourable product, geographic, and channel mix, partly offset by increased promotional activity to keep inventories current and healthy.

Operating income for the first quarter of Fiscal 2020 was $143 million on a reported basis, including restructuring-related and other charges of $31 million, and operating margin was 10.0%.

– For Fiscal 2020, the Company continues to expect net revenues to increase 2% to 3%. Foreign currency is expected to negatively impact revenue growth by 90 to 100 basis points in Fiscal 2020, the company said in the press release.

– Operating margin for the second quarter of Fiscal 2020 is expected to be up 40 to 60 basis points in constant currency. Foreign currency is expected to negatively impact operating margin by about 20 basis points in the second quarter, Ralph Lauren said.

The Company continues to plan capital expenditures of approximately $300 million for Fiscal 2020.

Business Finance

Tesla´s Q2 deliveries 95 356 – on track with China factory & Model Y

The US electric car manufacturer Tesla (TSLA) announced its second quarter results, which show that the company in on track with the Shanghai Gigafactory plant and with the new model, Model Y. It means the new factory would be ready by the end of this year and the new model by the fall 2020.

The company said its Q2 deliveries were 95 356 vehicles and they reach a record production of 87 048 vehicles. During the period Model 3 deliveries were 77 634 vehicles and the average selling price (ASP) was around 50.000 dollars. Tesla also said it expects its weekly production reach 10.000 by the end of the year. The total annual production expectation remained at 360.000- 400.000 vehicles.

The free cash flow was 614 million dollars. The car revenue was 5,3 billion dollars compared to 3,7 billion dollars in the previous quarter. The loss of car operations was 167 million dollars compared to 521 million dollars in the previous quarter and 621 million dollars a year earlier. The CEO Elon Musk said in the conference call that he expects the company to turn profitable during the rest of the year.

Business Finance

Ralph Lauren: China the biggest growth market

The US premium lifestyle products company Ralph Lauren (RL) said yesterday that the China market is the company’s biggest growth market. According to the company filings operating income of the fourth quarter fiscal 2019 was 28 million dollars and operating margin was 1,9 %.

In the North American markets the operating income was 109 million dollars and the margin 15,9 %. In Europe the operating income was 98 million dollars and in Asia 38 million dollars. The operating margins were 23,7 % and 14,3 %.

Ralph Lauren said that the Asia revenue with currency growth was up over 30 % in Mainland China and that China is the fastest growing market for the company.

The whole fiscal 2019 net revenues were 6313 million dollars, up from 6182 million dollars year ago. Operating income was 561 million dollars compared to 498 million dollars year ago. The earnings per share was 5,27 dollars (1,97 dollars).

For the first quarter fiscal 2020 guidance net revenue is expected to be 3-5 % and operating margins to show 30-50 basis points increase. For the whole fiscal 2020 net revenue is expected to increase 2-3 % and operating margin 40-60 basis points.

The Group has over 501 global brand stores related to brands Ralph Lauren, Polo Factory and Club Monaco and the company said it is planning to open new stores in Asia and in Europe during the next fiscal year.

Company share price was trading today up 1,52 % to 113,89 dollars in New York. The  market cap of Ralph Lauren is 8,9 billion dollars

 

 

 

 

 

 

 

 

 

 

Business Lifestyle