Overview of Top weekly news 2.2. 2022

02 / 02 / 2022
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The success of the movie drives profits

The Japanese company Sony Group Corp has announced the latest full-year profit forecast, which should be 15% higher after the release of estimated quarterly profits. The success of the movie Spider-Man: No Way Home, which became the sixth best-earning film, is also behind the increase. The total quarterly operating profit was 465.2 billion yen, compared to an estimated average profit of 351.6 billion yen.

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Performance Sony Group Corp. over for 5 years. (Source: Investing.com)

Lack of components has reduced the carmaker’s sales

Sales have fallen sharply to Volvo Car Group. During January, sales fell by 20.2%. This is due to a global shortage of components and even the strong demand for its products did not help. The carmaker has also been significantly affected by supply chain failures throughout the sector, which have now eased, but the lack of components will remain a limiting factor for Volvo Cars and the automotive industry. The carmaker’s sales fell to 47,561 cars globally in January, with sales in Europe down 24.8% while in the United States down 12.8%.

A rapid drop in profits for PayPal

The PayPal payment service recorded a significant drop in profit in the fourth quarter, and it was 49%. The year-on-year decline in PayPal Holdings’ profit thus climbed to USD 801 million. The reason is probably the separation from the former parent company eBay. The company has terminated its operating agreement with eBay and is moving to its own payment platform, which of course has an impact on the volume of transactions. PayPal’s revenue could fall by as much as $ 600 million in the first place. [1]

Stock split plan

The purchase of shares will be more affordable. The parent company Google Alphabet has approved a 20: 1 share split plan. The announcement of the news helped Alphabet’s shares, which after these reports increased by more than 9% in post-market trading.* Alphabet is one of the technology companies whose market capitalization has grown to trillions as investors have opted for profitable growth. The shares will be divided into Class A, Class B and Class C according to the profit and loss account.

Watch this week:

On Thursday, Eurozone Services Purchasing Managers Index (PMI) will be published.

On Friday, U.S. Nonfarm Payrolls will be announced.

 

[*]         Past performance is no guarantee of future results

[1]         Forward-looking statements are based on assumptions and current expectations, which may be inaccurate, or based on the current economic environment which is subject to change. Such statements are not guaranteeing future performance. They involve risks and other uncertainties which are difficult to predict. Results could differ materially from those expressed or implied in any forward-looking statements.

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