Rubicon Organics Inc. saw a 7% increase in revenue for Q2 2024, reaching CA$12.1 million. However, their gross profit dropped by 12% to CA$4.05 million, indicating a decline in profitability despite higher sales. The company attributes this shift to consumer preferences for larger format purchases, which typically have lower margins.
Acreage Holdings, a leading cannabis operator, reported a mixed financial performance in Q2 2024. While the company expanded its market reach, notably with the entry into Ohio’s recreational cannabis market, revenue declined due to liquidity constraints. However, Acreage is optimistic about future growth, driven by recapitalization, new product launches, and the integration with Canopy USA.
Lumentum Holdings Inc. (LITE) exceeded analysts’ expectations for both earnings and revenue in the fourth quarter, driven by strong demand for datacom chips used in data centers. The company also issued optimistic revenue guidance for the first quarter, indicating continued growth in cloud and AI markets.
Grab Holdings Limited (GRAB) reported mixed fiscal second-quarter 2024 results, missing revenue expectations but exceeding adjusted EBITDA estimates. The company’s stock price dropped significantly following the announcement.
JD.com, Inc. (NASDAQ: JD) reported strong second-quarter 2024 results, exceeding analyst expectations for both revenue and earnings. Revenue grew by 1.2% year-over-year to $40.098 billion, while adjusted net income per ADS reached $1.29, exceeding forecasts. The company’s focus on price competitiveness and supply chain efficiency, along with its growing economies of scale, contributed to its strong performance.
Serve Robotics stock jumped over 14% in pre-market trading after reporting better-than-expected second-quarter sales results. The company beat revenue estimates but missed on earnings. Other stocks experiencing significant pre-market movements include Digital Ally, Conduit Pharmaceuticals, Nuburu, Vertex Energy, Revelation Biosciences, and Nkarta, all showing gains. On the other hand, TC Biopharm, Bionomics, Iveda Solutions, Santech Holdings, Alternus Clean Energy, Ouster, QuickLogic, WISeKey, Twin Vee Powercats, and SeaStar Medical Holding are all seeing losses in pre-market trading.
Apple’s Indian venture has achieved remarkable growth, exceeding $23 billion in revenue in FY24, fueled by increased local manufacturing and strong demand for iPhones. This surge makes Apple the fastest growing manufacturer in India in the past 50 years, highlighting its strategic focus on the country as a crucial market.
Apollo Hospitals Enterprise reported a significant 83% jump in its consolidated profit after tax (PAT) for the quarter ending June 30, 2024, driven by an increase in healthcare revenue. The company also witnessed a 15% rise in consolidated revenue for the quarter.
Microsoft’s gaming division, Xbox, has reported record-breaking revenue for Fiscal Year 2024, driven primarily by the acquisition of Activision Blizzard King. The merger has significantly boosted Xbox’s earnings, with Activision Blizzard King’s contributions reaching over $1 billion in three consecutive quarters.
Rumble Inc. (RUM) saw its shares rise after reporting better-than-expected second-quarter earnings, exceeding revenue and profit estimates. The company also reported an increase in monthly active users and record concurrent livestream viewers, signaling a growing audience and potential for monetization.
