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SBUX

Starbucks Executive Says Co Continues To Feel Impact Of A More Cautious Consumer In The United States, Particularly With More Occasional Customers

Fiscal Year 2023 Financial Highlights
<ul>
<li>Total revenue was $17.3 million, an increase of 30.0% from $13.3 million in fiscal year 2022.</li>
<li>Gross profit was $8.1 million, an increase of 33.5% from $6.1 million in fiscal year 2022.</li>
<li>Gross margin was 47.2%, increased from 46.0% in fiscal year 2022.</li>
<li>Net income was $0.03 million, compared to net loss of $1.3 million in fiscal year 2022.
<ul>
<li>Basic and diluted earnings per share were $0.003, compared to basic and diluted loss per share of $0.14 in fiscal year 2022.</li>
</ul>
</li>
</ul>

Earnings

CHSN

Chanson International FY23 EPS $0.003 Vs $(0.14) YoY; Revenue $17.3M Vs $13.3M YoY

Guidance

Mirion Reaffirms 2024 Adj. EPS Guidance $0.37-$0.42

EnLink Midstream (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENLC#NYSE">ENLC</a>) reported quarterly earnings of $0.03 per share which missed the analyst consensus estimate of $0.13 by 76.92 percent. This is a 75 percent decrease over earnings of $0.12 per share from the same period last year. The company reported quarterly sales of $1.648 billion which missed the analyst consensus estimate of $2.106 billion by 21.76 percent. This is a 6.79 percent decrease over sales of $1.768 billion the same period last year.

Earnings Misses

ENLC

EnLink Midstream Q1 2024 GAAP EPS $0.03 Misses $0.13 Estimate, Sales $1.648B Miss $2.106B Estimate

AMD Raises AI Accelerator Forecast To $4B

Highlights of Half Year Financial Results
<ul>
<li>During the six months ended October 31, 2023, despite the global economic slowdown and rising geopolitical uncertainties which led to volatile world markets, the Company demonstrated strong resilience and achieved solid financial performance.</li>
<li>We generated US$6.9 million in revenue from hotel operations, hospitality and VIP services after the injection of AMTD Assets Group into the Company.</li>
<li>Fair value gain on financial assets measured at fair value for the six months ended October 31, 2023 amounted to US$16.3 million.</li>
<li>We recorded other gains of US$14.3 million as a result of disposal of certain subsidiaries for the six months ended October 31, 2023.</li>
</ul>
Statements from the Board Members:
Dr. Timothy Tong, the Chairman of the board of directors and an independent director of AMTD Digital, commented, "Similar to the year before, the six-month period that ended on October 31, 2023 was filled with challenges. Although the COVID pandemic has officially ended, the global economy in the post-COVID period has yet to fully recover. Geopolitical tensions around the world continue to post serious uncertainties about investments in all sectors of the economy. I thank the management team and continue to be cautiously optimistic about the prospect for future performance growth of AMTD Digital."
Ms. Joanne Shoveller, the Co-Chair of the board of directors and an independent director of AMTD Digital, commented, "The AMTD Digital strategy in diversifying assets and timing of strategic decisions has resulted in these strong interim results and a resilient, innovative and exciting foundation for future growth. The AMTD Digital board of directors expresses their appreciation to the leadership team for their hard work and impressive results."
Financial Results for the Six Months Ended October 31, 2023 Revenue
Our revenue for the six months ended October 31, 2023 was US$8.7 million as compared to US$13.9 million for the six months ended October 31, 2022. Hotel operations, hospitality and VIP services income was US$6.9 million and has become a new revenue driver for us after the successful acquisition of AMTD Assets Group, the real estate arm of AMTD Group Inc., focusing on and specializing in hospitality and lifestyle concepts globally.
Employee benefits expenses
Staff costs for the six months ended October 31, 2023 decreased by 18.2% as compared to the same period in prior year to US$3.1 million. This was due to the tightened cost control in connection with the global economic slowdown and rising geopolitical uncertainties.
Premises and office expenses
Premises and office expenses for the six months ended October 31, 2023 increased by 208.5% as compared to the same period in prior year to US$1.5 million. This was due to the incremental costs attributable to the post-acquisition operations of AMTD Assets Group.
Depreciation and amortization
Depreciation and amortization for the six months ended October 31, 2023 increased by 407.6% as compared to the same period in prior year to US$2.1 million, primarily attributable to the hotel properties of AMTD Assets Group.
Finance costs
Finance costs for the six months ended October 31, 2023 increased by US$3.4 million as compared to the same period in prior year, primarily attributable to the incremental borrowings by the Company, and due to the consolidation of AMTD Assets Group which had outstanding bank loans to finance the underlying real estate properties.
Other expenses
Other expenses for the six months ended October 31, 2023 increased by 821.5% as compared to the same period in prior year to US$4.6 million, primarily attributable to (i) the addition of hotel operation expenses of US$2.8 million incurred by AMTD Assets Group, and (ii) the share of losses of joint ventures of US$1.4 million.
Change in fair value on financial assets measured at fair value through profit or loss ("FVTPL")
Change in fair value on financial assets measured at FVTPL for the six months ended October 31, 2023 was US$16.3 million, primarily attributable to the realisation from gain of entertainment projects during the period.
Other Income
Other income increased by 85.3% as compared to the same period in prior year to US$9.0 million, primarily due to (i) an increase in bank interest income as the Company had generated additional interest income from deposits with banks, and (ii) an increase in the net average outstanding balance due from our ultimate holding company, which was interest bearing.
Income Tax Expense
Income tax expense for the six months ended October 31, 2023 increased by 15.1% as compared to the same period in prior year to US$2.0 million, primarily due to an increase in tax assessable income.
Profit For The Period
Profit for the six months ended October 31, 2023 increased to US$30.1 million.

AMTD Digital H1 EPS $0.41 Vs $0.15 YoY; Revenue $8.7M Vs $13.9M YoY

Editor&#8217;s note: This story has been updated with additional details.
Chipmaker Advanced Micro Devices, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) reported Tuesday after the close with first-quarter results that <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38517836/will-ai-ignite-amds-stock-q1-earnings-to-test-investor-confidence-today">came in slightly ahead of expectations</a> thanks to record data center revenue. The stock retreated in after-hours trading, likely due to second-quarter revenue guidance that fell short of consensus estimates on the low end. 
AMD&#8217;s Key Q1 Metrics: Santa Clara, California-based AMD&#8217;s first-quarter earnings and sales rose modestly year-over-year, although both metrics fell from the previous quarter.
Here&#8217;re how the main metrics compared to expectations:
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Q1&#8217;24 Actual</td>
<td>Q1&#8217;24 Consensus&#x2A;</td>
<td>Q1&#8217;24 Guidance</td>
<td>Y-o-Y Change</td>
<td>Q-o-Q Change</td>
</tr>
<tr>
<td>Revenue</td>
<td>$5.47B</td>
<td>$5.46B</td>
<td>$5.4B +/- $300 M</td>
<td>+2%</td>
<td>-11%</td>
</tr>
<tr>
<td>Non-GAAP EPS</td>
<td>62 cents</td>
<td>61 cents</td>
<td>N/A</td>
<td>+4%</td>
<td>-19%</td>
</tr>
<tr>
<td>Non-GAAP gross margin</td>
<td>52</td>
<td>N/A</td>
<td>52%</td>
<td>+2 points</td>
<td>+1 point</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">&#x2A; according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a></figcaption></figure>
<a href="https://www.benzinga.com/news/earnings/24/04/38444720/intel-shares-fall-on-q1-revenue-miss-weak-q2-eps-guidance">Rival Intel reported last week with a slight miss on first-quarter revenue </a>and below-consensus guidance for the second quarter. Intel stock slumped over 9% in reaction to earnings. 
&#8220;We delivered strong first quarter results with our Data Center and Client segments each growing more than 80% year-over-year driven by the ramp of MI300 AI accelerator shipments and the adoption of our Ryzen and EPYC processors,&#8221; said AMD Chair and CEO Lisa Su.
&#8220;This is an incredibly exciting time for the industry as widespread deployment of AI is driving demand for significantly more compute across a broad range of markets. We are executing very well as we ramp our data center business and enable AI capabilities across our product portfolio.&#8221;
Before the earnings report was published, Rosenblatt&#8217;s Hans Mosesmann called for an in-line print, with a slight positive bias, premised on strong MI300 AI accelerator sales and EPYC experience gains in CPUs. 
AMD's Businesses – How They Fared In Q1: Data Center segment revenue landed at a record $2.3 billion, up 80% year-over-year, driven by growth in both AMD Instinct GPUs and fourth-generation AMD EPYC CPUs.&nbsp;
Analysts were bracing for a strong server compute business thanks to improving end markets and market share gains
Client segment revenue was $1.4 billion as AMD Ryzen 8000 Series processor sales remained robust even as analysts expected PC headwinds to impact results. PC shipments fell year-over-year for a second straight quarter, according to data from Gartner.
On the other hand, both Gaming and Embedded businesses reported year-over-year and sequential revenue declines, with the former impacted by weak semi-custom revenue and lower AMD Radeon GPU sales, while inventory correction at the customer level weighed down on the latter.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td></td>
<td>Q1&#8217;24 Revenue</td>
<td>% of Total Revenue</td>
<td>Y-o-Y Growth</td>
<td>Q-o-Q Growth</td>
</tr>
<tr>
<td>Data Center&nbsp;</td>
<td>$2.3B</td>
<td>42%</td>
<td>80%</td>
<td>2%</td>
</tr>
<tr>
<td>Client segment&nbsp;</td>
<td>$1.4B</td>
<td>26%</td>
<td>85%</td>
<td>(-6%)</td>
</tr>
<tr>
<td>Gaming segment</td>
<td>$922 million</td>
<td>17%</td>
<td>(-48%)</td>
<td>(-33%)</td>
</tr>
<tr>
<td>Embedded segment</td>
<td>$846 million</td>
<td>15%</td>
<td>(-46%)</td>
<td>(-20%)</td>
</tr>
</tbody>
</table>
</figure>
See Also: <a href="https://www.benzinga.com/money/best-artificial-intelligence-stocks">Best Artificial Intelligence Stocks</a>
AMD guided to second-quarter revenue of $5.7 billion plus or minus $300 million and a non-GAAP gross margin of about 53% against Street estimates of $5.7 billion in second-quarter revenue.
Street expectations for fiscal year 2024 are for earnings of $3.40 per share and revenue of $24.13 billion, respectively.
AMD Price Action: AMD, which ended Tuesday&#8217;s regular session down 1.14% at $158.38, fell 4.22% to $151.70 in after-hours trading, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data.</a> The stock hit an all-time closing high of $211.38 on March 7 but has since slipped back from the peak. For the year-to-date period, the stock has added 7.44% compared to Nvidia&#8217;s 74.48% jump and the iShares Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOXX#NASDAQ">SOXX</a>)&#8217;s 11.55% gain.
Analysts are optimistic the company will rise over the next year. The average AMD analyst price target, according to TipRanks, is $203.96, suggesting over 27% upside. 
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38511785/cathie-woods-ark-goes-chip-stock-shopping-ahead-of-amd-earnings-adds-more-of-warren-buffett-back">Cathie Wood&#8217;s Ark Goes Chip-Stock Shopping Ahead Of AMD Earnings, Adds More Of Warren Buffett-Backed Chinese EV Play</a>
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="&#x1f534;WATCH LIVE: Advance Micro Devices Q1 2024 Earnings Call &#x7C; $AMD" width="500" height="281" src="https://www.youtube.com/embed/BfGdCwyZC18?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
Photo courtesy of AMD.

Equities

Markets

Tech

iShares PHLX SOX Semiconductor Sector Index Fund

SOXX

AMD Investors Pull Back After Modest Q1 Beat, Lukewarm Guidance; CEO Touts AI Chip Ramp-Up (UPDATED)

SMCI

Supermicro Expects Q4 Net Sales Of $5.1B-$5.5B (Est $4.888B), Adj EPS Of $7.62-$8.42 (Est $7.14)

FORR

Forrester Research Sees FY24 Adj. EPS $1.50-$1.70 Vs $1.58 Est.; Revenue $430M-$450M Vs $437.769M Est.

AMTD Digital Inc. ("AMTD Digital" or the "Company") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HKD#NYSE">HKD</a>) announced today that the Company's board of directors approved the change of the Company's fiscal year end from April 30 to October 31. Taking into consideration the continual global expansion of AMTD Group Inc. ("AMTD Group"), being the controlling shareholder of the Company, AMTD Group is realigning the various fiscal calendar year-end dates of its subsidiaries. The Company is adjusting its fiscal year-end date to October 31 accordingly.
The change of fiscal year-end is effective immediately.

AMTD Digital Inc. Approved The Change Of The Company's Fiscal Year End From April 30 To October 31, Effective Immediately

Viant Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DSP#NASDAQ">DSP</a>) reported quarterly earnings of $0.02 per share which beat the analyst consensus estimate of $(0.07) by 128.57 percent. This is a 166.67 percent increase over losses of $(0.03) per share from the same period last year. The company reported quarterly sales of $53.393 million which beat the analyst consensus estimate of $50.831 million by 5.04 percent. This is a 27.98 percent increase over sales of $41.720 million the same period last year.

Earnings Beats

Viant Technology Q1 2024 Adj EPS $0.02 Beats $(0.07) Estimate, Sales $53.393M Beat $50.831M Estimate

SILK

Silk Road Medical Sees FY24 Revenue $194M-$198M Vs $195.923M Est.

AMTD Group Inc. ("AMTD Group"), the controlling shareholder of AMTD IDEA Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMTD#NYSE">AMTD</a>, SGX: HKB)))) ("AMTD IDEA") and AMTD Digital Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HKD#NYSE">HKD</a>) ("AMTD Digital") today announced the introduction and adoption of an innovative system through which the CEOs of all of its operating companies and key subsidiaries, including AMTD IDEA and AMTD Digital, will be appointed by the Executive Management Committee ("EMC") of the applicable entities on a rotational basis. This philosophy of shared leadership is reflected in the new feature which forms the core foundation of the rotating CEO mechanism. Under the new rotation program, no single individual would be appointed as the sole leader of an entity for an extended period, and a campaign of "everyone can be a hero" will be rolled out across the group to encourage and promote the next leaders of the companies. Through this rotation program, AMTD Group will maximize the values from the collective wisdom and stepped-up efforts to groom and nurture the next-level leaders.
By rotating the CEOs every six months, the group will be led by different personalities, which will create a much more diverse workplace where different common principles and perspectives will be consistently communicated and implemented. Due to the shared decision-making process and the grooming process to cultivate the next-level leadership, the long-term and sustainable interest of AMTD will be best served. Shared Values as the core mission of AMTD and key shareholders' beliefs and practices will be implemented through the new structure and organization leadership.
Dr. Feridun Hamdullahpur, the independent chairman of AMTD IDEA commented "The entire AMTD organization is built upon innovative thinking. We don't just talk about it; we practise it all the time. We have evolved and matured by understanding the changing world a bit better and defying the status quo. The rotating CEO program is born out of such thinking, and I believe will bring renewed energy and inspiration for the long-term sustainability and growth of the group. We would not be where we are without their great work, dedication, and commitment. We will continue counting on the new leadership program to move us steadily forward and grow our impact gradually and concretely over time."

Management

AMTD

AMTD Group Inc. Announces The Adoption Of A Completely Independent And Non-Executive Board Structure And An Innovative CEO Rotation System Across The Group

BGFV

Big 5 Sporting Goods Sees Q2 EPS $(0.55)-$(0.40)

10x Genomics Maintains 2024 Revenue Guidance Of $670M-$690M (Est $677.79M), Representing 8%-12% Growth Y/Y

VNOM

Viper Energy Sees FY24 Mbo/d Net Production 25.75-26.75; MBoe/d Net Production 46.00-48.00

Bogota Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSBK#NASDAQ">BSBK</a>) reported quarterly losses of $(0.03) per share. This is a 137.5 percent decrease over earnings of $0.08 per share from the same period last year.

BSBK

Bogota Finl Q1 EPS $(0.03) Down From $0.08 YoY

Northeast Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NBN#NASDAQ">NBN</a>) reported quarterly earnings of $1.83 per share which beat the analyst consensus estimate of $1.72 by 6.4 percent. This is a 8.28 percent increase over earnings of $1.69 per share from the same period last year. The company reported quarterly sales of $38.054 million which beat the analyst consensus estimate of $36.340 million by 4.72 percent. This is a 13.84 percent increase over sales of $33.427 million the same period last year.

Northeast Bank Q3 2024 GAAP EPS $1.83 Beats $1.72 Estimate, Sales $38.054M Beat $36.340M Estimate

Viper Energy Sees Q2 2024 MBo/d Net Production 26.00-26.50; MBoe/d Net Production 46.50-47.25

ATI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATI#NYSE">ATI</a>): The Dallas-based company <a href="https://www.benzinga.com/news/earnings/24/04/38515910/ati-q1-adj-0-48-beats-0-41-estimate-sales-1-04b-beat-1-03b-estimate">reported first-quarter (Q1)</a> revenue of $1.04 billion in 2024. Net income hovered at around $66 million (or 46 cents per share). 
<ul>
<li>Aerospace and defense sales rose to $616 million, driving a 7% year-over-year growth.&nbsp;</li>
<li>Adjusted net income was $68.4 million (48 cents per share), with adjusted EBITDA at $151 million, or 14.5% of sales.&nbsp;</li>
<li>The company highlighted strong demand for specialty alloys and significant improvements in cash flow in addition to completing $150 million in share repurchases.</li>
</ul>
Piedmont Lithium (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>): The North Carolina-based company announced Q1 2024 shipments of about 15,500 dry metric tons (dmt) of spodumene concentrate. Piedmont also has a record quarterly production of 40,439 dmt at North American Lithium; it set a monthly record of 15,699 dmt in March. 
<ul>
<li>The company is targeting full-year shipments of approximately 126,000 dmt, predominantly in the second half of 2024 as it ramps up to full production.&nbsp;</li>
<li>Piedmont is aiming to focus on contract customers to minimize dependence on the fluctuating spot market.</li>
</ul>
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/news/large-cap/24/04/38500350/first-quantum-minerals-closes-ravensthorpe-nickel-mine-cuts-330-jobs">First Quantum Minerals Closes Ravensthorpe Nickel Mine, Cuts 330 Jobs</a>
Buenaventura (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BVN#NYSE">BVN</a>): Peru&#8217;s largest publicly-traded precious metals mining company reported an EBITDA of $94.4 million. That&#8217;s up from $51.6 million in Q1 2023. 
<ul>
<li>Net income of $67.1 million, slightly down from $72.8 million. </li>
<li>The company&#8217;s cash position stood at $174 million, with a net debt of $525.3 million, resulting in a leverage ratio of 1.87x. </li>
<li>Key developments included receiving the final operating permit for the Yumpag mine, anticipated to produce 6.5 to 7.2 million silver ounces in 2024, and $29.4 million in dividends from Cerro Verde.&nbsp;</li>
<li>Q1 CAPEX for the San Gabriel project was $38.4 million.</li>
</ul>
American Battery Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABAT#NASDAQ">ABAT</a>): Scott Smith, a former Tesla executive, is now at American Battery Technology. 
<ul>
<li>American Battery named Smith vice president of financial planning and analysis to support the company&#8217;s strategic growth and lead investor relations. </li>
<li>Smith was the former Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) head of financial planning and analysis in Europe and recently moved from Berlin to the Reno headquarters.</li>
<li>He brings extensive experience in financial operations and market expansions, crucial to the company's expanding recycling and lithium manufacturing operations.</li>
</ul>
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/m-a/24/04/38469869/elliott-managements-1b-anglo-american-stake-ups-ante-as-mining-megamerger-collapses">Elliott Management&#8217;s $1 Billion Anglo American Stake Ups Ante As Mining Megamerger Collapses</a>
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Virtus InfraCap U.S. Preferred Stock ETF declares monthly distribution of $0.1675

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Press Releases

Infrastructure Capital Advisors Launches Its Newest ETF: the InfraCap Small Cap Income ETF (SCAP)

Virtus InfraCap ETFs (AMZA/PFFA/PFFR) Declare Monthly Distributions

Infrastructure Capital Advisors Declares Its Monthly Dividends: The InfraCap Small Cap Income ETF (SCAP) and InfraCap Equity Income Fund ETF (ICAP)

ICAP

SCAP