Q4 Financial News

By Ben Blanchard and Sarah Wu

Q3 result preview: IT firms expected to post muted revenue, subdued profit amid weak demand "We think the industry is close to the trough of this cycle. Signs of improvement in the global economy and strong deal wins in recent quarters give us confidence about the revenue growth acceleration that we forecast for FY25," said BNP Paribas. The financial firm prefers large-cap firms with strong client relationships, scale to invest in GenAI (Generative AI) and reasonable valuations.

Tesla (NASDAQ:TSLA) produced about 495,000 electric vehicles (EVs) in the fourth quarter of the last year, the company said today.

Investments in alternative real estate surged in the final quarter of 2023 to $418.7 million after a slow start in the first three quarters, boosting overall annual inflows to $650 million and signalling robust investor confidence. Alternatives had a 51% share of total inflows during Q4 2023, indicating strong demand in segments including data centres, student housing, life sciences, and schools. Overall, student housing accounted for about 60% of investment inflows within alternatives during the year, said Colliers. «As India's real estate sector closes yet another promising year, institutional investments saw an increase of 10% and stand at $5.4 billion — the highest since 2020.

STOCKHOLM (Reuters) -Swedish fashion retailer H&M (ST:HMb) reported on Friday a 4% drop in September-November sales measured in local currencies, larger than the 3% fall forecast by analysts.

VanEck, a prominent investment management firm, has released a set of 15 cryptocurrency predictions for the year 2024, casting a spotlight on potential significant developments in the digital asset space.

Vishal Thakkar, Deputy CFO, Anupam Rasayan, says “there has been a bit of a blip for a few quarters. We might see it for a quarter or two more and then we should be back on the growth path, that is what I think we are seeing as an industry. For Anupam also, we have been fairly flattish to little on the upside as far as growth is concerned. Probably, this quarter also will be kind of similar and in Q4 of this financial year, we should start seeing the growth back in our journey as well.” What is your overall outlook on the chemical sector as a whole because I understand there are some concerns right now with respect to destocking that could end soon. There has been high competition due to the recovery in China and the China oversupply impacting a lot of branded and generic sales. Can you give us a round up? The industry has been seeing a bit of headwinds, especially regarding the destocking issue. Yes, the channels had a little bit more inventory than what the market was comfortable with and the industry is unwinding it and that is pushing the demand for the backstream guys a little further for a few quarters. China is coming in and that also is increasing the market supply and reducing the demand for the industry.

Investing.com -  Toll Brothers reported Tuesday better-than-expected fourth-quarter results despite a tough macroeconomic backdrop amid higher mortgage rates that weighed on new home sales. 

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PVR Inox expects a strong fiscal fourth quarter for cinema exhibitors, driven by a strong lineup of movie releases, following a lacklustre third quarter marred by disappointing Hindi film performances and the ICC Men's Cricket World Cup. «Q4 will be better than Q3, which is very skewed towards Animal, Salaar, and Dunki. In Q4, we will have films coming out every two weeks, and they're nicely spread out,» PVR Inox executive director Sanjeev Bijli told ET. A slew of films is set to be released between January and March, including Hrithik Roshan's Fighter, Vijay Sethupathi's Merry Christmas, and Kareena Kapoor Khan's The Buckingham Murders. While Q3 failed to meet the company's expectations, it expects an improved performance in December due to Ranbir Kapoor's Animal, Shah Rukh Khan's Dunki, Prabhas' Salaar, and Vickey Kaushal's Sam Bahadur. «Q3 was somewhat muted as October and November did get impacted by the World Cup.

TRON (TRX) recently saw popularity from crypto enthusiasts when CoinGecko reported that the network became the second-largest Layer-1 solution in 2023 in terms of TVL. According to the report, TRON has a TVL of $7,889,146,722. As for the price performance of the TRX cryptocurrency, it was recorded at $0.109823 during the past week, and its total value was 93% in the past year.

Siemens Ltd has posted a 36% rise in net profit at Rs 534 crore in the July-September quarter compared to the year ago, on the back of higher revenues, the company said in a statement. The company reported a net profit of Rs 392 crore a year ago. It follows the October to September fiscal year. Revenue for the quarter came in at Rs 5,297 crore, up 25% over Rs 4,236 crore a year ago.

Scotiabank reported its fourth-quarter profit fell compared with a year ago as the amount it set aside to cover bad loans more than doubled.

Perhaps now is an opportune moment to recall that historically, the period from November through January stands out as the most bullish three-month stretch of the entire year. Not only that, it marks the start of the most bullish six-month phase for the stock market.

Dogecoin price was recorded at $0.086539 as its maximum value. The Dogecoin market cap is now at $10,570,458,978, and as a result, it has retained its position as the 10th largest crypto. While Dogecoin is bullish, Everlodge has seen the most activity.

XRP price has dropped 18.5% from its local high of $0.67 on Nov. 23, and it appears the cryptocurrency will suffer more selloffs in the coming weeks.

Also Read: Stock market today: Sensex, Nifty 50 end flat; realty, metals shine, pharma stocks drag The optimism for the global macro-economic scenario has diminished, with 33 per cent of respondents expecting it to decrease in Q4 2023, compared to 37 per cent in Q3 2023, according to the survey. 52 per cent of CFOs are optimistic about the requirement for short term funds in Q4 2023, highest since the inception of index in 2012. Dr.

Walmart reported an uptick in its consolidated gross margin, attributed to the delayed launch of its Indian ecommerce arm Flipkart's Big Billion Days (BBD) festive season this year. “Consolidated gross margin rate up 32bps (basis points) positively affected by a slight improvement for Walmart US and timing of Flipkart’s The Big Billion Days (“BBD”) event, which flipped from Q3 last year to Q4 this year,” a bullet point in the company’s October quarter earnings statement noted.

Investing.com — Applied Materials reported fiscal fourth results Thursday that beat analyst estimates as higher margins helped ease the impact from slowing revenue growth.   

FRANKFURT (Reuters) -Siemens on Thursday gave a more cautious sales outlook for 2024 after the trains to industrial software maker reported fourth-quarter industrial profit ahead of expectations.

Tetra Tech (NASDAQ:TTEK) shares rose more than 4% after-hours following the company’s reported Q4 results, with EPS of $1.78 coming in better than the consensus estimate of $1.44.