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Eguana anuncia resultados financeiros anuais de 2023

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Eguana anuncia resultados financeiros anuais de 2023

Eguana Technologies Inc.

Eguana Technologies Inc.

CALGARY, Alberta, 27 de maio de 2024 (GLOBE NEWSWIRE) – Eguana Technologies Inc. (TSXV: EGT) (OTCQB: EGTYF) (“Eguana” ou o “Empresa”), fornecedor líder de sistemas de armazenamento de energia de alto desempenho, anuncia seus resultados financeiros anuais para o ano encerrado em 31 de dezembro de 2023.

Resultados resumidos do ano fiscal de 2023

O encerramento do exercício da Companhia foi anteriormente alterado de 30 de setembro para 31 de dezembro. Consequentemente, as demonstrações financeiras do período de doze meses findo em 31 de dezembro de 2023 (“F2023”), estão sendo apresentadas com informações comparativas do período de quinze meses findo em 31 de dezembro de 2023 (“F2023”). 31 de dezembro de 2022 (“F2022”).

  • As vendas diminuíram 32,1% para US$ 11.458.590 em F2023 em comparação com US$ 16.826.875 em F2022. Em uma base rateada simples de 12 meses, F2022 equivaleria a US$ 13.461.500, ou uma redução normalizada de 15%. No início de 2023, a indústria solar foi impactada negativamente por factores macroeconómicos, incluindo taxas de juro elevadas e mercados de crédito ao consumidor difíceis, causando inventários elevados nos principais canais de distribuição e, em geral, o mercado contraiu-se. Após o primeiro trimestre, em F2023 as vendas diminuíram, devido a esta mudança na procura e a continuação desta baixa procura no mercado.

  • As margens brutas globais permanecem baixas, uma vez que os consumidores continuam a ser sensíveis aos preços, resultando em preços agressivos para produtos e serviços dos concorrentes, num ambiente de procura muito menor. A margem bruta diminuiu para 17,9% negativos, ou US$ 2.120.555 negativos, no ano encerrado em 31 de dezembro de 2023, em comparação com o período encerrado em 31 de dezembro de 2022, em que as margens brutas foram de US$ 233.219, ou 1,4%. As margens no ano fiscal de 2023 foram impactadas negativamente pelas despesas com redução ao valor recuperável de estoque registradas pela Empresa no valor de US$ 2.052.274.

  • Os custos operacionais, excluindo amortização e despesas de remuneração baseada em ações, em F2023 foram de US$ 13.011.943, acima dos US$ 11.525.441 dos quinze meses de F2022, representando um aumento de 12,9% no período ao longo do período. No entanto, normalizado numa base rateada simples de 12 meses, o F2022 equivaleria a $9.220.353, ou um aumento de 41,1%. As despesas em quase todas as categorias aumentaram ligeiramente. Despesas mais elevadas foram experimentadas devido ao aumento do número de funcionários, que foi ajustado para baixo no quarto trimestre de F2023, respondendo à recuperação do mercado mais lenta do que o esperado, e ao aumento do número de funcionários e dos custos operacionais com a expansão da filial australiana em F2023, para incluir serviços solares nos telhados.

  • Provisões adicionais foram registadas ao longo de F2023, relativamente a um grande cliente de pagamento lento da Eguana. A perda de crédito total esperada para o ano encerrado em 31 de dezembro de 2023 foi de US$ 9,9 milhões (2022 – US$ 1,4 milhão).

  • O prejuízo líquido antes de impostos para o exercício encerrado em 31 de dezembro de 2023 de US$ 35.558.524, aumentou em US$ 16.815.380. O aumento do prejuízo líquido antes de impostos pode ser atribuído principalmente às margens baixas, com despesas ligeiramente mais elevadas, à grande perda de crédito esperada registada e também ao aumento dos custos de financiamento associados ao novo Empréstimo Sénior e às debêntures ITOCHU, ambos emitidos na parte final de F2022.

A história continua

Passos Estratégicos

  • Grande parte da atividade estratégica no início de 2023 estava relacionada com o crescimento dos canais de distribuição nos EUA e com a integração e formação de parceiros de instalação. A Eguana University, uma plataforma robusta de treinamento on-line, foi lançada com mais de 1.300 instaladores treinados ao longo do ano.

  • A Empresa adicionou serviços de instalação solar em telhados na Austrália, a fim de ser uma solução pronta para uso, permitindo à Eguana garantir um contrato com uma grande concessionária australiana.

  • À medida que a procura da indústria abrandou e as vendas estagnaram, a Empresa mudou estrategicamente para se concentrar na conectividade da rede e na proposta de valor dentro de aplicações de centrais eléctricas virtuais (“VPP”). Para o final de 2023 e no plano estratégico de 2024, a Eguana continuará focada em demonstrar o valor da resposta à procura, gestão de carga, energia auxiliar e controlo de tensão e frequência para empresas de serviços públicos.

  • Com foco em aplicações VPP, o desenvolvimento de produtos mudou para a atualização de serviços em nuvem e o aprimoramento de soluções em nuvem, o que resultou no recente lançamento do Eguana Edge™. O conjunto de soluções Eguana Cloud está posicionando a Empresa como uma solução de software de rede elétrica, além dos produtos de hardware existentes como Evolve™, Enduro™ e os microinversores da marca Duracell.

  • O envolvimento das concessionárias ganhou força, à medida que a empresa anunciou parcerias com a Virtual Peaker e a AutoGrid, juntamente com parceiros de concessionárias, incluindo a Portland General Electric e a Massachusetts Municipal Wholesale Electric Company e uma grande empresa de concessionárias de serviços públicos na Austrália.

  • O colapso do mercado solar residencial impulsionado pelo consumidor criou estoques significativamente elevados através dos canais de distribuição em 2023 e 2024, o que levou a pedidos cancelados e atrasados, em todas as cadeias de fornecimento da indústria solar. Todos os players do setor foram impactados negativamente. Taxas de juro elevadas, inflação elevada e políticas e/ou incentivos fiscais pouco claros continuam a ser factores negativos. A menor procura e uma recuperação mais lenta do que o previsto criaram risco de liquidez a curto prazo para a Empresa. A Eguana continua a gerir de perto a liquidez, incluindo o trabalho com os seus credores seniores e a revisão de estratégias adicionais, para aumentar a liquidez e permitir a execução da estratégia empresarial para 2024.

“Depois de um ano muito difícil no setor solar residencial, lançamos nosso programa de acelerador de serviços públicos VPP, incluindo o Eguana Edge™, que fornece recursos de balanceamento de linhas de alimentação e controle de tensão em tempo real. Até o momento, o programa está sendo implementado em diversas concessionárias no Canadá e nos EUA, aumentando o interesse adicional das concessionárias nas soluções de armazenamento de energia Eguana”, comentou Justin Holland, CEO. “Espera-se que o sucesso da nossa tecnologia nestes canais de serviços públicos, onde os mercados financeiros têm menos impacto nas decisões de compra, impulsione vendas de armazenamento mais elevadas com margens mais fortes, além de gerar receitas recorrentes futuras.”

As Demonstrações Financeiras Consolidadas e a Discussão e Análise Gerencial das mesmas estão disponíveis no SEDAR+ em www.sedarplus.com e o site da empresa em www.EguanaTech.com.

A Companhia realizará uma convocação de acionistas, em conexão com a apresentação de suas demonstrações financeiras para o período intermediário encerrado em 31 de março de 2024, que estão previstas para serem arquivadas até 30 de maio de 2024 e em combinação com a recente apresentação de suas demonstrações financeiras para o período anual encerrado em 31 de dezembro de 2023. Os detalhes serão fornecidos em comunicado à imprensa, antes da teleconferência programada.

Sobre Eguana Technologies Inc.

A visão da Eguana é acelerar a modernização e a resiliência da rede, fornecendo alternativas flexíveis, modulares e económicas às atualizações tradicionais da rede. Nossa tecnologia agrega valor a todas as principais partes interessadas – desde o consumidor ao varejista de eletricidade, à concessionária de distribuição e ao operador do sistema.

A Eguana Technologies conecta concessionárias com consumidores, por meio de suas soluções de armazenamento de energia comercial e residencial de alto desempenho. O conjunto de produtos verticalmente integrados da Eguana foi projetado desde o início, tendo em mente o usuário final e a concessionária, para fazer a transição da rede elétrica sem problemas.

Fabricada em instalações locais em todo o mundo para garantir conformidade e qualidade, a plataforma padronizada da Eguana permite flexibilidade para garantir que cada solução de produto seja otimizada para uso nos principais mercados de modernização de rede.

Para saber mais, visite www.EguanaTech. com ou siga-nos no LinkedIn e @EguanaTech em X.

Consultas da empresa

Justin Holanda, CEO
Eguana Technologies Inc.
+1.416.728.7635
Justin.Holland@EguanaTech.com

Declarações prospectivas

O leitor é avisado de que todas as informações aqui contidas, exceto declarações de fatos históricos, podem constituir declarações prospectivas e informações prospectivas (em conjunto, “declarações prospectivas“) no significado atribuído pelo Instrumento Nacional 51-102 – Obrigações de Divulgação Contínua e outras legislações de valores mobiliários relevantes.

Declarações prospectivas são incluídas para fornecer informações sobre as expectativas e planos atuais da administração que permitem aos investidores e outros ter uma melhor compreensão dos planos de negócios e do desempenho e condição financeira da Empresa. Todas as declarações, exceto declarações de fatos históricos incluídas neste comunicado à imprensa, relativas à estratégia da Empresa, operações futuras, perspectivas, planos e objetivos da administração são declarações prospectivas que envolvem riscos e incertezas. As declarações prospectivas são normalmente identificadas por palavras como “planejar”, ​​“esperar”, “estimar”, “pretender”, “antecipar”, “acreditar” ou variações de tais palavras e frases ou declarações que certas ações, eventos ou resultados “podem”, “poderiam”, “iriam”, “podem” ou “irão” ser obtidos, ocorrer ou ser alcançados. As declarações prospectivas neste comunicado à imprensa incluem, mas não estão limitadas a: que a Empresa continuará focada em demonstrar o valor da resposta à demanda, gerenciamento de carga e energia auxiliar, e controle de tensão e frequência para empresas de serviços públicos; e que o programa de aceleradores utilitários VPP da empresa, incluindo o Eguana Edge™, deverá impulsionar maiores vendas de armazenamento com margens mais fortes e gerar receitas recorrentes futuras.

As declarações prospectivas não são uma garantia de desempenho futuro e envolvem uma série de riscos e incertezas. Muitos fatores podem fazer com que os resultados, desempenho ou conquistas reais da Empresa, ou eventos ou desenvolvimentos futuros, sejam materialmente diferentes daqueles expressos ou implícitos nas informações prospectivas. Esses fatores incluem, mas não estão limitados a, riscos associados a: falha da Empresa em melhorar o fluxo de caixa, o que teria um impacto adverso material na viabilidade do negócio para continuar operando; cobrança oportuna de contas a receber; capacidade de levantar capital em dívida ou capital próprio, conforme necessário, em termos apropriados; efeitos imprevistos da redução do quadro de funcionários; implementação e implantação eficazes de soluções Eguana e construção de parcerias adicionais e desenvolvimento de parcerias existentes; condições gerais económicas, de mercado e empresariais; fatores competitivos; alcançar objetivos estratégicos; envolvimento e adoção das soluções VPP com concessionárias; obtenção de receitas adicionais, receitas recorrentes e maiores margens; incapacidade ou atrasos na obtenção de materiais; atrasos na produção ou atrasos na certificação: a capacidade da Empresa de implementar programas piloto de serviços públicos adicionais e demonstrações ou implantação; a eficácia e eficiência operacionais dos produtos quando em uso pelas concessionárias; uma adoção mais lenta de tecnologias de armazenamento de energia e outros fatores estabelecidos na seção “Fatores de Risco” da discussão e análise da administração da Empresa para os três e nove meses findos em 30 de setembro de 2023 e no formulário de informações anuais datado de 1º de maio de 2023, que pode ser encontrado em seu site ou em www.sedarplus.ca. Os leitores são advertidos a não depositar confiança indevida em informações prospectivas, que são válidas apenas na data deste documento. A Empresa não assume nenhuma obrigação de divulgar publicamente quaisquer revisões das declarações prospectivas aqui contidas para refletir eventos ou circunstâncias que ocorram após a data deste documento ou para refletir a ocorrência de eventos imprevistos, exceto conforme exigido pelas leis de valores mobiliários aplicáveis.

Nem a TSXV nem seu Provedor de Serviços de Regulação (conforme esse termo é definido nas políticas da TSXV) aceitam responsabilidade pela adequação ou precisão deste comunicado à imprensa.



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We are the editorial team of Digital Finance News, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on Digital Finance News, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Modiv Industrial to release Q2 2024 financial results on August 6

Digital Finance News Staff

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Business Wire

RENO, Nev., August 1, 2024–(BUSINESS THREAD)–Modiv Industrial, Inc. (“Modiv” or the “Company”) (NYSE:MDV), the only public REIT focused exclusively on the acquisition of industrial real estate properties, today announced that it will release second quarter 2024 financial results for the quarter ended June 30, 2024 before the market opens on Tuesday, August 6, 2024. Management will host a conference call the same day at 7:30 a.m. Pacific Time (10:30 a.m. Eastern Time) to discuss the results.

Live conference call: 1-877-407-0789 or 1-201-689-8562 at 7:30 a.m. Pacific Time Tuesday, August 6.

Internet broadcast: To listen to the webcast, live or archived, use this link https://callme.viavid.com/viavid/?callme=true&passcode=13740174&h=true&info=company&r=true&B=6 or visit the investor relations page of the Modiv website at www.modiv.com.

About Modiv Industrial

Modiv Industrial, Inc. is an internally managed REIT focused on single-tenant net-leased industrial manufacturing real estate. The company actively acquires critical industrial manufacturing properties with long-term leases to tenants that fuel the national economy and strengthen the nation’s supply chains. For more information, visit: www.modiv.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240731628803/en/

Contacts

Investor Inquiries:
management@modiv.com

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Volta Finance Limited – Director/PDMR Shareholding

Digital Finance News Staff

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Volta Finance Limited - Director/PDMR Shareholding

Volta Finance Limited

Volta Finance Limited

Volta Finance Limited (VTA/VTAS)

Notification of transactions by directors, persons exercising managerial functions
responsibilities and people closely associated with them

NOT FOR DISCLOSURE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, IN THE UNITED STATES

*****
Guernsey, 1 August 2024

Pursuant to announcements made on 5 April 2019 and 26 June 2020 relating to changes to the payment of directors’ fees, Volta Finance Limited (the “Company” or “Volta”) purchased 3,380 no par value ordinary shares of the Company (“Ordinary Shares”) at an average price of €5.2 per share.

Each director receives 30% of his or her director’s fee for any year in the form of shares, which he or she is required to hold for a period of not less than one year from the respective date of issue.

The shares will be issued to the Directors, who for the purposes of Regulation (EU) No 596/2014 on Market Abuse (“March“) are “people who exercise managerial responsibilities” (a “PDMR“).

  • Dagmar Kershaw, Chairman and MDMR for purposes of MAR, has acquired an additional 1,040 Common Shares in the Company. Following the settlement of this transaction, Ms. Kershaw will have an interest in 12,838 Common Shares, representing 0.03% of the Company’s issued shares;

  • Stephen Le Page, a Director and a PDMR for MAR purposes, has acquired an additional 728 Ordinary Shares in the Company. Following the settlement of this transaction, Mr. Le Page will have an interest in 50,562 Ordinary Shares, representing 0.14% of the issued shares of the Company;

  • Yedau Ogoundele, Director and a PDMR for the purposes of MAR has acquired an additional 728 Ordinary Shares in the Company. Following the settlement of this transaction, Ms. Ogoundele will have an interest in 6,862 Ordinary Shares, representing 0.02% of the issued shares of the Company; and

  • Joanne Peacegood, Director and PDMR for MAR purposes has acquired an additional 884 Ordinary Shares in the Company. Following the settlement of this transaction, Ms. Peacegood will have an interest in 3,505 Ordinary Shares, representing 0.01% of the issued shares of the Company;

The notifications below, made in accordance with the requirements of the MAR, provide further details in relation to the above transactions:

a) Dagmar Kershaw
PRESIDENT AND DIRECTOR

b) Stephen LePage
DIRECTOR

c) Yedau Ogoundele
DIRECTOR

e) Joanne Pazgood
DIRECTOR

a. Position/status

Director

b. Initial Notification/Amendment

Initial notification

  • Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a name

Volta Finance Limited

b. LAW

2138004N6QDNAZ2V3W80

a. Description of the financial instrument, type of instrument

Ordinary actions

b. Identification code

GG00B1GHHH78

c. Nature of the transaction

Acquisition and Allocation of Common Shares in Relation to Partial Payment of Directors’ Fees for the Quarter Ended July 31, 2024

d. Price(s)

€5.2 per share

e. Volume(s)

Total: 3380

f. Transaction date

August 1, 2024

g. Location of transaction

At the Market – London

The)
Dagmar Kershaw
President and Director

B)
Steve LePage
Director

w)
Yedau Ogoundele Director

It is)
Joanne Pazgood
Director

Aggregate Volume:
1,040

Price:
€5.2 per share

Aggregate Volume:
728

Price:
€5.2 per share

Aggregate Volume:
728

Price:
€5.2 per share

Aggregate Volume:
884

Price:
€5.2 per share

CONTACTS

For the investment manager
AXA Investment Managers Paris
Francois Touati
francois.touati@axa-im.com
+33 (0) 1 44 45 80 22

Olivier Pons
Olivier.pons@axa-im.com
+33 (0) 1 44 45 87 30

Company Secretary and Administrator
BNP Paribas SA, Guernsey branch
guernsey.bp2s.volta.cosec@bnpparibas.com
+44 (0) 1481 750 853

Corporate Broker
Cavendish Securities plc
Andre Worn Out
Daniel Balabanoff
+44 (0) 20 7397 8900

*****
ABOUT VOLTA FINANCE LIMITED

Volta Finance Limited is incorporated in Guernsey under the Companies (Guernsey) Law, 2008 (as amended) and listed on Euronext Amsterdam and the Main Market of the London Stock Exchange for listed securities. Volta’s home member state for the purposes of the EU Transparency Directive is the Netherlands. As such, Volta is subject to the regulation and supervision of the AFM, which is the regulator of the financial markets in the Netherlands.

Volta’s investment objectives are to preserve its capital throughout the credit cycle and to provide a stable income stream to its shareholders through dividends that it expects to distribute quarterly. The company currently seeks to achieve its investment objectives by seeking exposure predominantly to CLOs and similar asset classes. A more diversified investment strategy in structured finance assets may be pursued opportunistically. The company has appointed AXA Investment Managers Paris, an investment management firm with a division specializing in structured credit, to manage the investment portfolio of all of its assets.

*****

ABOUT AXA INVESTMENT MANAGERS
AXA Investment Managers (AXA IM) is a multi-specialist asset management firm within the AXA Group, a global leader in financial protection and wealth management. AXA IM is one of the largest European-based asset managers with 2,700 professionals and €844 billion in assets under management at the end of December 2023.

*****

This press release is issued by AXA Investment Managers Paris (“AXA IM”) in its capacity as alternative investment fund manager (within the meaning of Directive 2011/61/EU, the “AIFM Directive”) of Volta Finance Limited (“Volta Finance”), the portfolio of which is managed by AXA IM.

This press release is for information only and does not constitute an invitation or inducement to purchase shares of Volta Finance. Its circulation may be prohibited in certain jurisdictions and no recipient may circulate copies of this document in violation of such limitations or restrictions. This document is not an offer to sell the securities referred to herein in the United States or to persons who are “U.S. persons” for purposes of Regulation S under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or otherwise in circumstances where such an offering would be restricted by applicable law. Such securities may not be sold in the United States absent registration or an exemption from registration under the Securities Act. Volta Finance does not intend to register any part of the offering of such securities in the United States or to conduct a public offering of such securities in the United States.

*****

This communication is being distributed to, and is directed only at, (i) persons who are outside the United Kingdom or (ii) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies and other persons to whom it may lawfully be communicated falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). The securities referred to herein are available only to, and any invitation, offer or agreement to subscribe for, purchase or otherwise acquire such securities will be made only to, relevant persons. Any person who is not a relevant person should not act on or rely on this document or any of its contents. Past performance should not be relied upon as a guide to future performance.

*****
This press release contains statements that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements can be identified by the use of forward-looking terminology, including the words “believes”, “anticipates”, “expects”, “intends”, “is/are expected”, “may”, “will” or “should”. They include statements about the level of the dividend, the current market environment and its impact on the long-term return on Volta Finance’s investments. By their nature, forward-looking statements involve risks and uncertainties and readers are cautioned that such forward-looking statements are not guarantees of future performance. Actual results, portfolio composition and performance of Volta Finance may differ materially from the impression created by the forward-looking statements. AXA IM undertakes no obligation to publicly update or revise forward-looking statements.

Any target information is based on certain assumptions as to future events that may not materialize. Due to the uncertainty surrounding these future events, targets are not intended to be and should not be considered to be profits or earnings or any other type of forecast. There can be no assurance that any of these targets will be achieved. Furthermore, no assurance can be given that the investment objective will be achieved.

Figures provided which relate to past months or years and past performance cannot be considered as a guide to future performance or construed as a reliable indicator as to future performance. Throughout this review, the citation of specific trades or strategies is intended to illustrate some of Volta Finance’s investment methodologies and philosophies as implemented by AXA IM. The historical success or AXA IM’s belief in the future success of any such trade or strategy is not indicative of, and has no bearing on, future results.

The valuation of financial assets may vary significantly from the prices that AXA IM could obtain if it sought to liquidate the positions on Volta Finance’s behalf due to market conditions and the general economic environment. Such valuations do not constitute a fairness or similar opinion and should not be relied upon as such.

Publisher: AXA INVESTMENT MANAGERS PARIS, a company incorporated under the laws of France, with registered office at Tour Majunga, 6, Place de la Pyramide – 92800 Puteaux. AXA IMP is authorized by Autorité des Marchés Financiers under registration number GP92008 as an alternative investment fund manager within the meaning of the AIFM Directive.

*****

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Apple to report third-quarter earnings as Wall Street eyes China sales

Digital Finance News Staff

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Apple to report third-quarter earnings as Wall Street eyes China sales

Litter (AAPL) is set to report its fiscal third-quarter earnings after the market closes on Thursday, and unlike the rest of its tech peers, the main story won’t be about the rise of AI.

Instead, analysts and investors will be keeping a close eye on iPhone sales in China and whether Apple has managed to stem the tide of users switching to domestic rivals including Huawei.

For the quarter, analysts expect Apple to report earnings per share (EPS) of $1.35 on revenue of $84.4 billion, according to estimates compiled by Bloomberg. Apple saw EPS of $1.26 on revenue of $81.7 billion in the same period last year.

Apple shares are up about 18.6% year to date despite a rocky start to the year, thanks in part to the impact of the company’s Worldwide Developer Conference (WWDC) in May, where showed off its Apple Intelligence software.

But the big question on investors’ minds is whether iPhone sales have risen or fallen in China. Apple has struggled with slowing phone sales in the region, with the company noting an 8% decline in sales in the second quarter as local rivals including Huawei and Xiaomi gain market share.

CUPERTINO, CALIFORNIA - JUNE 10: Apple CEO Tim Cook delivers remarks at the start of the Apple Worldwide Developers Conference (WWDC) on June 10, 2024 in Cupertino, California. Apple will announce plans to incorporate artificial intelligence (AI) into Apple software and hardware. (Photo by Justin Sullivan/Getty Images)

Apple CEO Tim Cook delivers remarks at the start of the Apple Worldwide Developers Conference (WWDC). (Photo by Justin Sullivan/Getty Images) (Justin Sullivan via Getty Images)

And while some analysts, such as JPMorgan’s Samik Chatterjee, believe sales in Greater China, which includes mainland China, Hong Kong, Singapore and Taiwan, rose in the third quarter, others, including David Vogt of UBS Global Research, say sales likely fell about 6%.

Analysts surveyed by Bloomberg say Apple will report revenue of $15.2 billion in Greater China, down 3.1% from the same quarter last year, when Apple reported revenue of $15.7 billion in China. Overall iPhone sales are expected to reach $38.9 billion, down 1.8% year over year from the $39.6 billion Apple saw in the third quarter of 2023.

But Apple is expected to make up for those declines in other areas, including Services and iPad sales. Services revenue is expected to reach $23.9 billion in the quarter, up from $21.2 billion in the third quarter of 2023, while iPad sales are expected to reach $6.6 billion, up from the $5.7 billion the segment brought in in the same period last year. Those iPad sales projections come after Apple launched its latest iPad models this year, including a new iPad Pro lineup powered by the company’s M4 chip.

Mac revenue is also expected to grow modestly in the quarter, versus a 7.3% decline last year. Sales of wearables, which include the Apple Watch and AirPods, however, are expected to decline 5.9% year over year.

In addition to Apple’s revenue numbers, analysts and investors will be listening closely for any commentary on the company’s software launches. Apple Intelligence beta for developers earlier this week.

The story continues

The software, which is powered by Apple’s generative AI technology, is expected to arrive on iPhones, iPads and Macs later this fall, though according to Bloomberg’s Marc GurmanIt won’t arrive alongside the new iPhone in September. Instead, it’s expected to arrive on Apple devices sometime in October.

Analysts are divided on the potential impact of Apple Intelligence on iPhone sales next year, with some saying the software will kick off a new iPhone sales supercycle and others offering more pessimistic expectations about the technology’s effect on Apple’s profits.

It’s important to note that Apple Intelligence is only compatible with the iPhone 15 Pro and newer phones, ensuring that all users desperate to get their hands on the tech will have to upgrade to a newer, more powerful phone as soon as it is available.

Either way, if Apple wants to make Apple Intelligence a success, it will need to ensure it has the features that will make customers excited to take advantage of the offering.

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Number of Americans filing for unemployment benefits hits highest level in a year

Digital Finance News Staff

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Number of Americans filing for unemployment benefits hits highest level in a year

The number of Americans filing for unemployment benefits hit its highest level in a year last week, even as the job market remains surprisingly healthy in an era of high interest rates.

Jobless claims for the week ending July 27 rose 14,000 to 249,000 from 235,000 the previous week, the Labor Department said Thursday. It’s the highest number since the first week of August last year and the 10th straight week that claims have been above 220,000. Before that period, claims had remained below that level in all but three weeks this year.

Weekly jobless claims are widely considered representative of layoffs, and while they have been slightly higher in recent months, they remain at historically healthy levels.

Strong consumer demand and a resilient labor market helped avert a recession that many economists predicted during the Federal Reserve’s prolonged wave of rate hikes that began in March 2022.

As inflation continues to declinethe Fed’s goal of a soft landing — reducing inflation without causing a recession and mass layoffs — appears to be within reach.

On Wednesday, the Fed left your reference rate aloneBut officials have strongly suggested a cut could come in September if the data stays on its recent trajectory. And recent labor market data suggests some weakening.

The unemployment rate rose to 4.1% in June, despite the fact that American employers added 206,000 jobs. U.S. job openings also fell slightly last month. Add that to the rise in layoffs, and the Fed could be poised to cut interest rates next month, as most analysts expect.

The four-week average of claims, which smooths out some of the weekly ups and downs, rose by 2,500 to 238,000.

The total number of Americans receiving unemployment benefits in the week of July 20 jumped by 33,000 to 1.88 million. The four-week average for continuing claims rose to 1,857,000, the highest since December 2021.

Continuing claims have been rising in recent months, suggesting that some Americans receiving unemployment benefits are finding it harder to get jobs.

There have been job cuts across a range of sectors this year, from agricultural manufacturing Deerefor media such as CNNIt is in another place.

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