Tag Archives: guidance

Fubo – Fubo Exceeded Guidance in Q3 2023 With $313 Million Total Revenue, up 43% Year-Over-Year, and Record 1.477 Million Paid Subscribers in North America; Raises Full Year 2023 Outlook – FuboTV – Investor Relations

  1. Fubo – Fubo Exceeded Guidance in Q3 2023 With $313 Million Total Revenue, up 43% Year-Over-Year, and Record 1.477 Million Paid Subscribers in North America; Raises Full Year 2023 Outlook FuboTV – Investor Relations
  2. FuboTV revenue soars, boosts 2023 guidance Yahoo Finance
  3. Fubo Hits High of 1.47M Paid Subscribers in North America Hollywood Reporter
  4. FuboTV’s stock soars again after big beats for paid subscribers, revenue MarketWatch
  5. FuboTV Inc (FUBO) Q3 2023 Earnings: Subscribers Grow by 20%, Revenue Up by 43% YoY Yahoo Finance
  6. View Full Coverage on Google News

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DraftKings Delivers Positive Adjusted EBITDA in Second Quarter; Reports Revenue of $875 Million; Raises 2023 Revenue Guidance Midpoint by $315 Million to $3.5 Billion and Improves 2023 Adjusted EBITDA Guidance Midpoint by $110 Million to ($205) Mil – Yahoo Finance

  1. DraftKings Delivers Positive Adjusted EBITDA in Second Quarter; Reports Revenue of $875 Million; Raises 2023 Revenue Guidance Midpoint by $315 Million to $3.5 Billion and Improves 2023 Adjusted EBITDA Guidance Midpoint by $110 Million to ($205) Mil Yahoo Finance
  2. DraftKings stock rallies on surprise profit, more upbeat full-year sales forecast, as new sports-betting customers roll in MarketWatch
  3. DraftKings (DKNG) Stock Rises After Earnings Beat, Forecast Raised Bloomberg
  4. DraftKings soars after posting profitable quarter and guiding for positive EBITDA in 2024 Seeking Alpha
  5. DraftKings (DKNG) Reports Q2 Loss, Tops Revenue Estimates Yahoo Finance
  6. View Full Coverage on Google News

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U.S. Department of the Treasury, IRS Release Guidance on Provisions to Expand Reach of Clean Energy Tax Credits Through President Biden’s Investing in America Agenda | U.S. Department of the Treasury – Treasury

  1. U.S. Department of the Treasury, IRS Release Guidance on Provisions to Expand Reach of Clean Energy Tax Credits Through President Biden’s Investing in America Agenda | U.S. Department of the Treasury Treasury
  2. Feds pave the way for cities and nonprofits to get climate-bill tax credits CNBC
  3. DOE’s new tool helps you get your share of the climate law’s billions Canary Media
  4. Big Companies on Verge of New Market for Clean-Energy Tax Credits The Wall Street Journal
  5. IRS releases guidance on direct pay and transferability under IRA Solar Power World
  6. View Full Coverage on Google News

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Treasury Department Releases Guidance to Boost American Clean Energy Manufacturing – Treasury

  1. Treasury Department Releases Guidance to Boost American Clean Energy Manufacturing Treasury
  2. US Treasury takes middle road on solar panels ‘Made in the USA’ Reuters
  3. Tax credit for clean energy raises concern from some U.S. industries The Washington Post
  4. Made-in-USA trackers, solar panels, inverters and more can claim 10% ‘domestic content’ adder under certain rules Solar panels must have domestic solar cells to receive the full credit. Solar Power World
  5. Treasury Department releases guidance on solar domestic content pv magazine USA
  6. View Full Coverage on Google News

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Moderna Stock Skids After 2023 Guidance Misses By More Than $2 Billion – Investor’s Business Daily

  1. Moderna Stock Skids After 2023 Guidance Misses By More Than $2 Billion Investor’s Business Daily
  2. Moderna misses on earnings as costs rise from surplus production capacity, lower Covid shot demand CNBC
  3. Sliding vaccine sales, new costs, shrink Moderna 4Q profit Yahoo Finance
  4. Moderna co-founder talks COVID-19 vaccines, mRNA growth, agriculture portfolio Yahoo Finance
  5. Moderna earnings fall short of estimates amid steep decline in COVID vaccine sales, expects to file for approval of RSV vaccine in first half MarketWatch
  6. View Full Coverage on Google News

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DraftKings stock gains after record revenue and increased 2023 guidance – MarketWatch

  1. DraftKings stock gains after record revenue and increased 2023 guidance MarketWatch
  2. DraftKings rallies after posting strong growth, narrower loss than anticipated Seeking Alpha
  3. DraftKings Reports Fourth Quarter Revenue of $855 Million; Raises 2023 Revenue Guidance Midpoint to $2.95 Billion and Improves 2023 Adjusted EBITDA Guidance Midpoint to ($400) Million Yahoo Finance
  4. DraftKings stock boosted as sports betting industry reports gross gaming revenue high in 2022 Yahoo Finance
  5. A Look at DraftKings After the Super Bowl and Before Earnings RealMoney
  6. View Full Coverage on Google News

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Meta stock spikes despite earnings miss, as Facebook hits 2 billion users for first time and sales guidance quells fears

Meta Platforms Inc. shares soared in after-hours trading Wednesday despite an earnings miss, as the Facebook parent company guided for potentially more revenue than Wall Street expected in the new year and promised more share repurchases amid cost cuts.

Meta
META,
+2.79%
said it hauled in $32.17 billion in fourth-quarter revenue, down from $33.67 billion a year ago but stronger than expectations. Earnings were $4.65 billion, or $1.76 a share, compared with $10.3 billion, or $3.67 a share, last year.

Analysts polled by FactSet expected Meta to post fourth-quarter revenue of $31.55 billion on earnings of $2.26 a share, and the beat on sales coincided with a revenue forecast that also met or exceeded expectations. Facebook Chief Financial Officer Susan Li projected first-quarter sales of $26 billion to $28.5 billion, while analysts on average were projecting first-quarter sales of $27.2 billion.

Shares jumped more than 18% in after-hours trading immediately following the release of the results, after closing with a 2.8% gain at $153.12.

Alphabet Inc.’s
GOOGL,
+1.61%

GOOG,
+1.56%
Google and Pinterest Inc.
PINS,
+1.56%
benefited from Meta’s results, with shares for each company rising 4% in extended trading Wednesday.

“Our community continues to grow and I’m pleased with the strong engagement across our apps. Facebook just reached the milestone of 2 billion daily actives,” Meta Chief Executive Mark Zuckerberg said in a statement announcing the results. “The progress we’re making on our AI discovery engine and Reels are major drivers of this. Beyond this, our management theme for 2023 is the ‘Year of Efficiency’ and we’re focused on becoming a stronger and more nimble organization.”

Read more: Snap suffers worst sales growth yet in holiday quarter, stock plunges after earnings miss

Facebook’s 2 billion-user milestone was slightly better than analysts expected for user growth on Meta’s core social network. Daily active users across all of Facebook’s apps neared, but did not crest, another round number, reaching 2.96 billion, up 5% from a year ago.

Meta has been navigating choppy ad waters as it copes with increasing competition from TikTok and fallout from changes in Apple Inc.’s
AAPL,
+0.79%
ad-tracking system in 2021 that punitively harmed Meta, costing it potentially billions of dollars in advertising sales. Meta has invested heavily in artificial-intelligence tools to rev up its ad-targeting systems and making better recommendations for users of its short-video product Reels, but it laid off thousands of workers after profit and revenue shrunk in recent quarters.

The cost cuts seemed to pay off Wednesday. While Facebook missed on its earnings, it noted that the costs of its layoffs and other restructuring totaled $4.2 billion and reduced the number by roughly $1.24 a share.

Meta executives said they now expect operating expenses to be $89 billion to $95 billion this year, down from previous guidance for $94 billion to $100 billion. Capital expenditures are expected to be $30 billion to $33 billion, down from previous guidance of $34 billion to $37 billion, as Meta cancels multiple data-center projects.

In a conference call with analysts late Wednesday, Zuckerberg called 2023 the “year of efficiency.”

“The reduced outlook reflects our updated plans for lower data-center construction spend in 2023 as we shift to a new data-center architecture that is more cost efficient and can support both AI and non-AI workloads,” Li said in her outlook commentary included in the release.

Meta expects to increase its spending on its own stock. The company’s board approved a $40 billion increase in its share-repurchase authorization; Meta spent nearly $28 billion on its own shares in 2022, and still had nearly $11 billion available for buybacks before that increase.

“Investors are cheering Meta’s plans to return more capital to shareholders despite worries over rising costs related to its metaverse spending,” said Jesse Cohen, senior analyst at Investing.com.

The results came a day after Snap Inc.
SNAP,
-10.29%
posted fourth-quarter revenue of $1.3 billion, flat from a year ago and the worst year-over-year sales growth Snap has ever reported. But they also arrived on the same day Facebook scored a major win in a California court. The company successfully fended off the Federal Trade Commission bid to win a preliminary injunction to block Meta’s planned acquisition of VR startup Within Unlimited.

Read more: Meta wins bid to buy VR startup Within Unlimited, beating U.S. FTC in court: report

Meta shares have plunged 53% over the past 12 months, while the broader S&P 500 index 
SPX,
+1.05%
has tumbled 10% the past year.

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Ubisoft (UBI) stock tanks 21% after guidance cut, games cancelled

In this photo illustration, the Ubisoft video game company logo seen displayed on a smartphone.

Igor Golovniov | SOPA Images | LightRocket via Getty Images

Ubisoft shares plunged 21% on Thursday after the French video game maker reduced revenue guidance, cancelled three titles and pushed back the release of its upcoming Skull and Bones game.

The company’s share price slumped as low as 18.80 euros apiece shortly after the market opened, hitting its lowest level in more than seven years. The stock has since pared losses slightly and was last trading at around 20 euros, down 16% from the Wednesday close.

In a trading update on Wednesday, Ubisoft lowered net bookings guidance for the third quarter of 2022 to 725 million euros, down from an earlier target of 830 million euros. The company forecast full-year net bookings would likely fall 10% after an earlier projection called for an increase of 10%.

The company, which is best known as the publisher of hit franchises including Assassin’s Creed and Far Cry, cited poor performance of its Mario + Rabbids Sparks of Hope and Just Dance 2023 titles, as well as a challenging economic environment.

“There’s a fair amount of “battening down the hatches” going on globally as it relates to the games industry,” Lewis Ward, research director of gaming at IDC, told CNBC.

“There were huge 20-30% revenue surges when COVID hit, and in 2023 we’re dealing with ongoing denouement of the COVID-induced spending spike, plus concerns about a potential recession and ongoing inflationary and supply chain challenges in North America and Europe especially, plus, of course, the ongoing fallout of Russia’s invasion of Ukraine.”

Consumers are cutting back on discretionary purchases in response to higher prices and borrowing costs. Gaming has especially come under pressure. The industry was expected to contract 4.4% year-on-year to $182 billion, according to a November forecast from market research firm Ampere Analysis.

Ubisoft is the third gaming firm this week to issue a disappointing trading update. Devolver Digital and Frontier Developments posted profit warnings on Monday, citing a weak trading environment in December.

“This reveals that the macro-economic environment is having an impact on premium games sales to an extent,” Piers Harding-Rolls, research director for games at Ampere Analysis, told CNBC via email.

“However, I think it is likely that the economic backdrop will impact some companies more than others,” he added. “For example, we’ve already noted how the biggest AAA console releases have sold well — FIFA, God of War, CoD [Call of Duty] — so I think it’s too early to assume all major publishers will be in the same position as these three companies.”

The gaming industry seeing increased consolidation, including Microsoft’s mega acquisition of Call of Duty publisher Activision Blizzard and Sony’s purchase of Destiny developer Bungie. Analysts view Ubisoft as a potential takeover target. Its share price sank more than 38% in 2022, wiping off 3 billion euros from the company’s market value.

In September, Tencent upped its stake in the company in a deal that made the Chinese tech giant Ubisoft’s largest shareholder. The purchase gave Tencent an overall stake of 11%, including indirect ownership, and an option to increase its interest further to up to 17%.

Analysts at the time said that the stake purchase had dampened hopes of a takeover. As part of the deal, Tencent won’t be able to sell its shares for five years and can’t increase its direct stake in Ubisoft beyond 9.99% for a period of eight years. 

Ubisoft said Wednesday that it would depreciate around 500 million euros of capitalized research and development and narrow its focus to fewer titles. It shelved three unannounced game projects and delayed the release of its upcoming Skull and Bones pirate game until a period between early 2023 to 2024.

The company hopes to cut costs by about 200 million euros through a mix of targeted restructuring, divestment of “non-core” assets, and employee attrition. It has about 1.4 billion euros of cash and non-cash equivalence on its balance sheet.

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New guidance: Use drugs, surgery early for obesity in kids

Children struggling with obesity should be evaluated and treated early and aggressively, including with medications for kids as young as 12 and surgery for those as young as 13, according to new guidelines released Monday.

The longstanding practice of “watchful waiting,” or delaying treatment to see whether children and teens outgrow or overcome obesity on their own only worsens the problem that affects more than 14.4 million young people in the U.S. Left untreated, obesity can lead to lifelong health problems, including high blood pressure, diabetes and depression.

“Waiting doesn’t work,” said Dr. Ihuoma Eneli, co-author of the first guidance on childhood obesity in 15 years from the American Academy of Pediatrics. “What we see is a continuation of weight gain and the likelihood that they’ll have (obesity) in adulthood.”

For the first time, the group’s guidance sets ages at which kids and teens should be offered medical treatments such as drugs and surgery — in addition to intensive diet, exercise and other behavior and lifestyle interventions, said Eneli, director of the Center for Healthy Weight and Nutrition at Nationwide Children’s Hospital.

In general, doctors should offer adolescents 12 and older who have obesity access to appropriate drugs and teens 13 and older with severe obesity referrals for weight-loss surgery, though situations may vary.

The guidelines aim to reset the inaccurate view of obesity as “a personal problem, maybe a failure of the person’s diligence,” said Dr. Sandra Hassink, medical director for the AAP Institute for Healthy Childhood weight, and a co-author of the guidelines.

“This is not different than you have asthma and now we have an inhaler for you,” Hassink said.

Young people who have a body mass index that meets or exceeds the 95th percentile for kids of the same age and gender are considered obese. Kids who reach or exceed the 120th percentile are considered to have severe obesity. BMI is a measure of body size based on a calculation of height and weight.

Obesity affects nearly 20% of kids and teens in the U.S. and about 42% of adults, according to the Centers for Disease Control and Prevention.

The group’s guidance takes into consideration that obesity is a biological problem and that the condition is a complex, chronic disease, said Aaron Kelly, co-director of the Center for Pediatric Obesity Medicine at the University of Minnesota.

“Obesity is not a lifestyle problem. It is not a lifestyle disease,” he said. “It predominately emerges from biological factors.”

The guidelines come as new drug treatments for obesity in kids have emerged, including approval late last month of Wegovy, a weekly injection, for use in children ages 12 and older. Different doses of the drug, called semaglutide, are also used under different names to treat diabetes. A recent study published in the New England Journal of Medicine found that Wegovy, made by Novo Nordisk, helped teens reduce their BMI by about 16% on average, better than the results in adults.

Within days of the Dec. 23 authorization, pediatrician Dr. Claudia Fox had prescribed the drug for one of her patients, a 12-year-old girl.

“What it offers patients is the possibility of even having an almost normal body mass index,” said Fox, also a weight management specialist at the University of Minnesota. “It’s like a whole different level of improvement.”

The drug affects how the pathways between the brain and the gut regulate energy, said Dr. Justin Ryder, an obesity researcher at Lurie Children’s Hospital in Chicago.

“It works on how your brain and stomach communicate with one another and helps you feel more full than you would be,” he said.

Still, specific doses of semaglutide and other anti-obesity drugs have been hard to get because of recent shortages caused by manufacturing problems and high demand, spurred in part by celebrities on TikTok and other social media platforms boasting about enhanced weight loss.

In addition, many insurers won’t pay for the medication, which costs about $1,300 a month. “I sent the prescription yesterday,” Fox said. “I’m not holding my breath that insurance will cover it.”

One expert in pediatric obesity cautioned that while kids with obesity must be treated early and intensively, he worries that some doctors may turn too quickly to drugs or surgery.

“It’s not that I’m against the medications,” said Dr. Robert Lustig, a longtime specialist in pediatric endocrinology at the University of California, San Francisco. “I’m against the willy-nilly use of those medications without addressing the cause of the problem.”

Lustig said children must be evaluated individually to understand all of the factors that contribute to obesity. He has long blamed too much sugar for the rise in obesity. He urges a sharp focus on diet, particularly ultraprocessed foods that are high in sugar and low in fiber.

Dr. Stephanie Byrne, a pediatrician at Cedars Sinai Medical Center in Los Angeles, said she’d like more research about the drug’s efficacy in a more diverse group of children and about potential long-term effects before she begins prescribing it regularly.

“I would want to see it be used on a little more consistent basis,” she said. “And I would have to have that patient come in pretty frequently to be monitored.”

At the same time, she welcomed the group’s new emphasis on prompt, intensive treatment for obesity in kids.

“I definitely think this is a realization that diet and exercise is not going to do it for a number of teens who are struggling with this – maybe the majority,” she said.

___

The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Science and Educational Media Group. The AP is solely responsible for all content.

Read original article here

New guidance: Use drugs, surgery early for obesity in kids

Children struggling with obesity should be evaluated and treated early and aggressively, including with medications for kids as young as 12 and surgery for those as young as 13, according to new guidelines released Monday.

The longstanding practice of “watchful waiting,” or delaying treatment to see whether children and teens outgrow or overcome obesity on their own only worsens the problem that affects more than 14.4 million young people in the U.S. Left untreated, obesity can lead to lifelong health problems, including high blood pressure, diabetes and depression.

“Waiting doesn’t work,” said Dr. Ihuoma Eneli, co-author of the first guidance on childhood obesity in 15 years from the American Academy of Pediatrics. “What we see is a continuation of weight gain and the likelihood that they’ll have (obesity) in adulthood.”

For the first time, the group’s guidance sets ages at which kids and teens should be offered medical treatments such as drugs and surgery — in addition to intensive diet, exercise and other behavior and lifestyle interventions, said Eneli, director of the Center for Healthy Weight and Nutrition at Nationwide Children’s Hospital.

In general, doctors should offer adolescents 12 and older who have obesity access to appropriate drugs and teens 13 and older with severe obesity referrals for weight-loss surgery, though situations may vary.

The guidelines aim to reset the inaccurate view of obesity as “a personal problem, maybe a failure of the person’s diligence,” said Dr. Sandra Hassink, medical director for the AAP Institute for Healthy Childhood weight, and a co-author of the guidelines.

“This is not different than you have asthma and now we have an inhaler for you,” Hassink said.

Young people who have a body mass index that meets or exceeds the 95th percentile for kids of the same age and gender are considered obese. Kids who reach or exceed the 120th percentile are considered to have severe obesity. BMI is a measure of body size based on a calculation of height and weight.

Obesity affects nearly 20% of kids and teens in the U.S. and about 42% of adults, according to the Centers for Disease Control and Prevention.

The group’s guidance takes into consideration that obesity is a biological problem and that the condition is a complex, chronic disease, said Aaron Kelly, co-director of the Center for Pediatric Obesity Medicine at the University of Minnesota.

“Obesity is not a lifestyle problem. It is not a lifestyle disease,” he said. “It predominately emerges from biological factors.”

The guidelines come as new drug treatments for obesity in kids have emerged, including approval late last month of Wegovy, a weekly injection, for use in children ages 12 and older. Different doses of the drug, called semaglutide, are also used under different names to treat diabetes. A recent study published in the New England Journal of Medicine found that Wegovy, made by Novo Nordisk, helped teens reduce their BMI by about 16% on average, better than the results in adults.

Within days of the Dec. 23 authorization, pediatrician Dr. Claudia Fox had prescribed the drug for one of her patients, a 12-year-old girl.

“What it offers patients is the possibility of even having an almost normal body mass index,” said Fox, also a weight management specialist at the University of Minnesota. “It’s like a whole different level of improvement.”

The drug affects how the pathways between the brain and the gut regulate energy, said Dr. Justin Ryder, an obesity researcher at Lurie Children’s Hospital in Chicago.

“It works on how your brain and stomach communicate with one another and helps you feel more full than you would be,” he said.

Still, specific doses of semaglutide and other anti-obesity drugs have been hard to get because of recent shortages caused by manufacturing problems and high demand, spurred in part by celebrities on TikTok and other social media platforms boasting about enhanced weight loss.

In addition, many insurers won’t pay for the medication, which costs about $1,300 a month. “I sent the prescription yesterday,” Fox said. “I’m not holding my breath that insurance will cover it.”

One expert in pediatric obesity cautioned that while kids with obesity must be treated early and intensively, he worries that some doctors may turn too quickly to drugs or surgery.

“It’s not that I’m against the medications,” said Dr. Robert Lustig, a longtime specialist in pediatric endocrinology at the University of California, San Francisco. “I’m against the willy-nilly use of those medications without addressing the cause of the problem.”

Lustig said children must be evaluated individually to understand all of the factors that contribute to obesity. He has long blamed too much sugar for the rise in obesity. He urges a sharp focus on diet, particularly ultraprocessed foods that are high in sugar and low in fiber.

Dr. Stephanie Byrne, a pediatrician at Cedars Sinai Medical Center in Los Angeles, said she’d like more research about the drug’s efficacy in a more diverse group of children and about potential long-term effects before she begins prescribing it regularly.

“I would want to see it be used on a little more consistent basis,” she said. “And I would have to have that patient come in pretty frequently to be monitored.”

At the same time, she welcomed the group’s new emphasis on prompt, intensive treatment for obesity in kids.

“I definitely think this is a realization that diet and exercise is not going to do it for a number of teens who are struggling with this – maybe the majority,” she said.

___

The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Science and Educational Media Group. The AP is solely responsible for all content.

Read original article here