New China Draft Rules for Online Gaming Send Chinese Stocks Sharply Lower

Chinese gaming stocks are sharply lower Friday after the Chinese government announced new draft rules for online gaming industry. Tencent’s stock fell -12.35% to HK$274, NetEase dumped -24.60% to HK$122, and Bilibili (BILI) fell around 10% on the Hong Kong Stock exchange. The stocks continued to slide heading into the US opening. Netease fell to 81.69 -22.72 (-21.76%) Pre-Market. BILI 10.32 -1.25 (-10.80%) Pre-Market. The new rules are aimed curbing the amount of money and time players spend playing the … Continue reading “New China Draft Rules for Online Gaming Send Chinese Stocks Sharply Lower”

Netflix New Subscribers, Operating Margin and Free Cash Flow All Beat, But Revenue Misses

Streaming giant Netflix reported mixed second quarter earnings after the market close Wednesday. NFLX reported revenues rose 2.7% compared to the year-ago period but missed estimates. This report included the affect of the crackdown on password sharing, which rolled out in the US in late May, along with the recently launched ad-supported tier. Netflix also guided third-quarter revenue of $8.52 billion, below expectations of $8.67 billion. On the positive side adjusted EPS of $3.29 beat $2.90 expected and subscribers net … Continue reading “Netflix New Subscribers, Operating Margin and Free Cash Flow All Beat, But Revenue Misses”

Nvidia Crushes Earnings and Guidance Acceleration with AI and Data Center Growth

NVidia trounced analysts with spectacular earnings and guidance for the April fiscal quarter of 2023 establishing itself as the leader in the emergence of AI technology. Nvidia fulfills the insatiable market needs of generative AI and accelerated computing. NVDA shares have been running hot with the generative artificial intelligence boom that started with the launch of OpenAI’s ChatGPT back in November. Even with that NVDA projected $11 billion in sales for the quarter ending in July, shocking analysts who had … Continue reading “Nvidia Crushes Earnings and Guidance Acceleration with AI and Data Center Growth”

Nvidia Earnings Beat with Rebound in Gaming, Sees Acceleration of AI and Data Center Growth

NVidia announced better than expected earnings and guidance for the January fiscal quarter of 2023 with sales and earnings beating analyst expectations. $NVDA shares jumped +29.10 or +14.02% on the results which also gave some hope to the beaten down semiconductor sector. Nvidia’s superior growth prospects are tied to the substantial investments it made in AI-powered technology over the past several years. CEO Jensen Huang commented that AI adoption is at an inflection point as the company prepares to launch … Continue reading “Nvidia Earnings Beat with Rebound in Gaming, Sees Acceleration of AI and Data Center Growth”

Take Two Stock Bounces on Developemnt Pipeline Including Grand Theft Auto VI.

Take Two Interactive Software stock took a tumble after it announced disappointing earnings, missing EPS by $0.07 and missing on top line after the close Monday. TTWO also guided FY23 EPS and net bookings below consensus. However, from bring down at a low of $106.31 the stock soared to a high of $115.21 and closed up just under 8%. The bounce came from a look past the earnings picture towards the future “highlighted a FY2023-’25 line-up that features 87 games, … Continue reading “Take Two Stock Bounces on Developemnt Pipeline Including Grand Theft Auto VI.”

Activision Blizzard Call of Duty: Modern Warfare Record Sales but Expenses Soar

Video game publisher Activision Blizzard reported better than expected fourth quarter earnings after the close Monday and updated on a pending acquisition of the company by Microsoft Corporation ($MSFT). Activision Blizzard ended the fourth quarter with 389 million monthly active users. Released in October “Call of Duty: Modern Warfare II” was the fastest-selling title in the history of the franchise. $ATVI saw growth from World of Warcraft Classic and core games include Overwatch, Call of Duty, and Candy Crush mobile … Continue reading “Activision Blizzard Call of Duty: Modern Warfare Record Sales but Expenses Soar”

AMD Warns on PC Slump but Gains on Intel in Lucrative Data Center Market

Advanced Micro Devices reported Tuesday quarterly revenue ahead of consensus, AMD however guided lower for the quarter ahead by over $150 million. Analysts and investors were excited that AMD is gaining further ground on Intel. The stock traded higher on AMD making up for a personal-computer slump with gains in the lucrative data center market. The company’s data center business revenue grew 42% in the quarter, compared with the 33% decline recorded at INTC’s data center and artificial intelligence unit … Continue reading “AMD Warns on PC Slump but Gains on Intel in Lucrative Data Center Market”

Netflix Shares Jump on Big Paid Subscribers Beat, Despite Earnings Miss on Forex Losses

Streaming giant Netflix reported worse than expected fourth quarter earnings after the market close Thursday on foreign exchange losses or remeasurement. NFLX reported revenues in-line, paid net subscriber additions of 7.66 mln topped prior guidance. The company guided Q1 EPS below consensus, but revenues above consensus, saying it expects positive paid net adds yr/yr. Netflix appointed new co-CEOs, which at first glance seems confusing for investors. NFLX stock traded up to $338.27 gaining $22.49 (+ 7.12%) after Hours.  Over the past … Continue reading “Netflix Shares Jump on Big Paid Subscribers Beat, Despite Earnings Miss on Forex Losses”

C3.ai Beat Analysts Revenue Targets but AI Cash Burn Rate Worries Remain

Artificial intelligence software company C3.ai beat analyst expectations for the Q2 fiscal FY2023 quarter, with revenue up 7% year-over-year to $62.41 million. However, AI is still running with large losses and its growth has stagnated. For Q2 2023, bookings were down 14% y/y. while bulls cite the large amount of cash on hand it is the burn rate that is of concern and explains much of why the stock is down over 90% from its highs. AI stock traded at … Continue reading “C3.ai Beat Analysts Revenue Targets but AI Cash Burn Rate Worries Remain”

Nvidia Overcomes AI Chip Restrictions in China with Strong Data Center Growth

NVidia announced mixed earnings for the October fiscal quarter of 2023 with sales beating analyst expectations but earnings per share lower than forecast. Nvidia said it expected $6 billion in sales in the fourth quarter, lower than consensus estimates of $6.09 billion $NVDA Shares got relief from Gaming beating expectations and Data Center revenue $3.83 billion, up 31% year-over-year. Nvidia said reduced sales from the GPUs banned in China would be largely offset by its alternative products like Automotive. AI … Continue reading “Nvidia Overcomes AI Chip Restrictions in China with Strong Data Center Growth”