Here are the most notable earnings call statements that happened this week!
Q2 2022 hedge fund letters, conferences and more
Uber CEO, Dara Khosrowshahi on Free Cash Flow:
“Uber delivered another strong quarter with gross bookings and an annualized run rate of $116 billion, an all-time high; EBITDA of $364 million, another all-time high and well above our guidance range; and positive free cash flow for the first time ever of $382 million. Despite the uncertain global economic environment and considerable foreign exchange headwinds, we’ve issued Q3 EBITDA guidance that shows strong incremental progression, and we remain confident in our ability to deliver healthy top and bottom line growth, strong margin improvement and yes, free cash flow, all the while continuing to responsibly invest in technical innovation, earner satisfaction and durable long-term growth.”
AMD CEO Lisa Su on the Data Center Business:
“But from our current view, I think we have a strong opportunity to continue to grow the data center business into 2023. And our view is we have an expanding portfolio as well. In addition to Genoa, we have our Bergamo, which is a cloud optimized capability, as well that’s coming online early next year. So there’s a lot of new products that are supporting sort of our growth ambitions.”
“So as we look now into the second half of the year, what we’re seeing is, again, Data Center is strong. Again, we expect Data Center to grow second half to first half nicely.”
Paypal CEO Daniel Schulman on Growth:
“Venmo remains a key growth driver for our business with nearly 90 million active accounts, driving revenue growth in Q2 of more than 50%, with the revenues exceeding $100 million last month alone. We continue to see increased commerce transactions on Venmo with commerce volumes growing more than 250%.”
Starbucks CEO Howard Schultz on Customer Demand:
“Customer demand for specifically customized cold coffee beverages, a category Starbucks single-handedly created and is now expanding around the world, is so strong that cold beverages now account for roughly 75% of our total beverage sales in U.S. company-operated stores. Customers are increasingly customizing their cold beverages by adding modifiers that enable the creation of a virtually unlimited range of taste, flavor and color profiles and then sharing their unique cold beverage creations with the world through social media.”
CEO Brian Chesky on the Stock Buyback:
“In fact, we’re so confident in our long-term growth and profitability that today, we’re announcing a $2 billion share repurchase program. And this is coming only 1.5 years after our IPO.”
Block (SQ) CFO Amrtia Ahuja on Afterpay:
“In the second quarter, GMV for Afterpay was $5.3 billion, up 13% year-over-year or 65% on a 3-year CAGR basis. For overall growth trends, we’ve seen impacts from spend shifts from online to in-person, competitive dynamics as well as foreign currency, which slowed year-over-year GMV growth by 5 points. We’ve seen growth hold up better in our more mature regions like Australia, which is more diversified across discretionary and nondiscretionary verticals as well as in-person and online channels.Trends have slowed more in North America, a newer market for Afterpay, where the primary verticals of fashion and beauty are both discretionary retail and where the Afterpay in-person product is still ramping.”
Article by Manpreet Jassal, Sentieo.
