Warning against slower growth
Zoom reported its quarterly earnings, which performed better than expected. However, together with the results comes a forecast that warns investors against a slowdown in sales growth. The reason is that the pandemic is coming to an end. The platform’s revenues increased by 35% compared to 2020 in the quarter ending October 31, slowing from 54% growth in the previous period. According to Zoom, net income jumped 71% to $ 340.3 million.
The first Tesla vehicles in Germany by the end of the year
The last round of Tesla Giga Berlin discussions ended this week. Tesla’s Gigafactory plant is expected to produce its first Model Y vehicles by the end of the year in Germany. The last round of discussions took place online and participants discussed more than 800 objections from environmental groups. Environmental groups have accused the State Environment Agency of announcing the meeting too late, so the meeting was postponed until November.
The euro is the most expensive in the last 12 years
The value of the Polish zloty against the euro fell at a record high. The euro has thus become the most expensive for Poles in the last 12 years. Polish Prime Minister Mateusz Morawiecki announced a possible attempt to stabilize the situation and tried to prevent the fall of the Polish currency. The central bank’s exchange rate against the euro is the highest in the last 12 years at 4.72. The Polish currency reacted with a momentary strengthening of the currency to the prime minister’s efforts, then the zloty began to weaken again.
PC companies are growing
Technology companies HP and Dell have announced strong results for the last quarter. The most significant increase was recorded in the personal computer business. HP revenue and operating profit increased in double digits. Giant Dell saw 40% increase in business PC sales, while consumer revenue rose 32%. The company’s shares gained 1.5% in off-hours trading*.
Dell’s performance over 5 years. (Source: Investing.com)*
Watch this week:
On Thursday, will be published Germany Gross Domestic Product (GDP) QoQ
On Friday, we can watch European Central Bank (ECB) President Christine Lagarde to speak. As head of the ECB, which sets short term interest rates, she has a major influence over the value of the euro.
* Past performance is no guarantee of future results
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