DD
MM
YYYY

PAGES

DD
MM
YYYY

spot_img

PAGES

Home Blog Page 3708

Netflix Reports Significant Growth in Third Quarter 2023 Earnings, Raises Its Premium Subscription Plan

0
London, UK - August 01, 2018: The buttons of Spotify, Podcasts, Netflix, WhatsApp and Music on the screen of an iPhone.

Giant streaming service Netflix has reported significant growth in its Third Quarter (Q3) 2023 earnings and has raised its premium subscription plan.

Netflix’s third quarter (Q3) financials were in line with its forecast revenue of $8.5B, paid net adds of 9M, and operating margin of 22.4%.

Revenue in Q3’23 grew 8% year-over-year on a reported and a foreign exchange (F/X) neutral basis2. This was slightly above the company’s forecast due to higher-than-expected member growth. Netflix also added nearly 9 million subscribers globally, surpassing Wall Street’s forecast of 6 million.

Revenue growth in Q3 reflected an increase in average paid memberships (8.8M paid net additions vs. 2.4M in Q3’22) due to the rollout of paid sharing, strong, steady programming, and the ongoing expansion of streaming globally.

Q3’23 operating income totaled $1.9B vs. $1.5B last year (up 25% year over year), slightly above the company’s guidance forecast due to the revenue upside and timing of content and other spending.

ARM3 decreased 1% year-over-year both on a reported and F/X neutral basis, in line with Netflix expectations. This was due to a number of factors, including a higher percentage of membership growth from lower ARM countries, limited price increases over the past 18 months, and some shifts in the plan mix.

Netflix delivered an operating margin of 22.4% (vs 22.2% forecast), up three percentage points vs. the year-ago quarter. EPS in Q3 was $3.73 vs. $3.10 and included a $173M million non-cash unrealized gain from F/X remeasurement on our Euro-denominated debt, which is recognized below operating income in “interest and other income.

The company’s stock price soared more than 12% in extended trading after the latest quarterly numbers came out. Netflix shares reportedly increased by about 30% so far this year amid mounting evidence its video-streaming service is faring better than most in a crowded field of competitors that are testing the financial limits of many households.

Also, Netflix has impressively picked up more than 16 million subscribers through the first nine months of the year, already eclipsing the 8.9 million subscribers that it added all of last year.

However, it’s still a fraction of the more than 36 million additional subscribers that Netflix attracted in 2020 during the lockdown period.

In an effort to generate more revenue, Netflix announced plans to raise the price for its most expensive streaming service by $2 to $23 per month in the U.S., a 10% increase, and its lowest-priced, ad-free streaming plan to $12, another $2 bump.

The $15.50 per month price for Netflix’s most popular streaming option in the U.S. will remain unchanged, as will a $7 monthly plan that includes intermittent commercials.

Demand for Apple MacBook to Witness 30% Decline in 2023 – Analyst

0

Renowned Apple analyst Ming-Chi Kuo made a significant projection on Wednesday, indicating that shipments of Apple’s MacBook computers are anticipated to decline by approximately 30% year over year in 2023, with an estimated total of 17 million units.

Kuo’s analysis provides insights into the challenges facing Apple’s MacBook lineup.

One key factor contributing to this decline, according to Kuo, is the noticeable drop in demand for the new 15-inch MacBook Air, which has declined “significantly.” This decline in demand was particularly evident after the back-to-school shopping period, traditionally a period of heightened sales activity.

Consequently, Kuo predicts that MacBook shipments during Apple’s fourth quarter will be lower than they have been in previous years. Historically, the fourth quarter is an important period for Apple as consumers make holiday-related technology purchases.

Kuo attributes the decrease in MacBook shipments to several factors. One of them is the diminishing demand from customers who have transitioned to working from home and may not require new laptops. Additionally, Kuo mentions the “waning consumer appeal” of Apple’s mini-LED displays and silicon, which may have led to a dip in consumer interest.

The 15-inch MacBook Air, in particular, is expected to see a decline of more than 20% in shipments this year.

In an interesting development, Kuo noted that Apple does not plan to release any new products during the fourth quarter. This pause in product launches is seen as an opportunity for the company to “clear inventory and reformulate new product and marketing strategies” for the coming year.

The MacBook lineup has been a significant part of Apple’s product portfolio, and a decline in shipments is noteworthy. As Apple navigates these challenges, it may need to reassess its product strategy and marketing approach to reignite consumer interest in its laptops.

Kuo said that the ASP of assembly and key components for the MacBook is significantly higher than that of general Windows notebooks (by more than three times), which significantly impacts the revenues and profits of key MacBook suppliers.

Additionally, ongoing shifts in work and education patterns in a post-pandemic world may continue to influence the demand for personal computing devices. Apple’s response to these dynamics will likely be closely observed by both investors and tech enthusiasts.

Apple expects the M3 processor to boost MacBook shipments in 2024, but it remains to be seen whether this strategy will be effective, Kuo said.

Is Academic Stress Getting to You? Consider Using Expert Research Paper Writers!

0

Every academic year starts with a sense of adventure, excitement about new subjects to explore and chances to outdo past performances. However, as the weeks transform into months, that initial euphoria starts being replaced by copious amounts of assignments, stringent deadlines, rigorous grading standards and escalating stress levels. Sound familiar? Well, you are not alone.

Consider this scenario – it’s 11pm on a Wednesday night; four half-done assignments lay strewn across your desk; your mind races between composing the next sentences for your towering research paper and finalizing details for tomorrow’s group project presentation. Meanwhile, weekend plans loom like an implausible luxury amidst this overwhelming maelstrom of coursework. As a student in today’s fast-paced academic environment, charting these turbulent waters can leave you feeling unnerved and overwhelmed. The constant pressure to not just stay afloat but also excel is an ongoing battle.

Is there an effective way out? What if you could find expert assistance that would help navigate through these stormy seas of relentless deadlines without having to compromise on other pursuits or personal well-being? This isn’t merely wishful thinking – welcome aboard the life-boat of expert research paper writers.

The Struggles We Share

Academic stress can arise from multiple sources. From heavily weighted assignments to the endless reading list, besides extracurricular commitments and personal obligations. Not to mention, the modern student must also forge ahead amidst the precarious landscape of a global pandemic and shifting educational frameworks. It is easy to feel like you are caught in an academic undertow with success becoming an increasingly elusive concept.

Facing such pressures, it is hardly surprising that we often find ourselves staring blankly at our laptops at ungodly hours, struggling to formulate meaningful sentences let alone coherent arguments for a challenging research paper. And yet, isn’t college life supposed to be more than just this relentless chase of grades? Aren’t these years meant for nurturing insights about life through various experiences as much as they are for academic pursuits?

The dilemma thus poses a question – how does one restore balance? The answer lies in considering diversifying your approach towards managing your workload- a strategy that includes entrusting some parts of your assignments to those who specialize in doing them well – expert research paper writers.

The Expert Research Paper Writers

Ever wondered what a little extra time could do for your academic life? Maybe you’ve contemplated how the pressure might ease if just one looming assignment were taken care of by someone else. If you’re nodding along, here’s an introduction to your academic superheroes – expert research paper writers.

These professionals are seasoned veterans in their fields, equipped with years of experience in producing quality academic content while meeting ironclad deadlines. By allowing them to take charge of writing impeccable research papers, students can recalibrate their focus on aspects like studying effectively and ensuring alignment with other commitments.

Think about it. No more additional all-nighters pulled for that tricky literature review or survey analysis; no corners cut in researching your history term paper because time was eating into your study schedule for exams. The stress associated with juggling too many responsibilities could get considerably minimized without compromising on the quality and relevance of work submitted.

Expert writing services efficiently handle complex assignments, providing comprehensive research supported by credible references, precisely formatted as per institutional guidelines – relieving students from one significant chunk of academic worries while helping maintain an edge over counterparts.

How Experts Lighten the Load

Leveraging expert research paper writers is more than just outsourcing time-consuming tasks. It’s an investment in your academic journey – a strategic decision that could boost your performance and reduce stress levels significantly.

Firstly, time saved is a precious commodity. Reclaiming those long hours spent fretting over daunting research papers can instead be diverted towards studying, attending extra classes, or investing in non-academic pursuits that enhance your overall student life experience.

Secondly, the assurance of high-quality work can lift a massive burden off your shoulders. Writing professionals are adept at producing comprehensive, well-structured and impeccably researched content that meet even the most stringent grading standards.

Thirdly, know how valuable it can be to have an extra pair of eyes scrutinize your work? Imagine having experts do that! Issues like grammar errors, citation irregularities or logic faults which might have slipped past you become unlikely when hiring writing services.

Lastly, strict adherence to deadlines ensures you never fall behind on submissions. This respite alone is worth its weight in gold for students navigating high-pressure environments while attempting to balance multiple commitments.

A Clearer Perspective

The concept of outsourcing your essays may seem unusual, even questionable, at first glance. But is it unethical? Does it encourage creative laziness or academic shortcutting? Let’s clear the air around these concerns.

Firstly, hiring expert writers isn’t ‘cheating,’ but rather a strategic decision. Just like you’d delegate work in a team project based on individuals’ strengths, allowing professional writers to tackle strenuous assignments can be viewed as effective task allocation. This way, you focus on areas where you excel while outsourcing intricate tasks to those better equipped.

Next comes the concern of jeopardizing creativity and learning opportunities. Understandably, students worry that they might miss out on gaining valuable knowledge if they don’t complete every piece of assigned work themselves. However, remember that there’s more than one way to accrue knowledge and skill development in college years. Freed-up time can be used productively for holistic learning via deep-diving into subjects you love or exploring new hobbies.

Lastly, regarding quality concerns – reputable research paper writing services place top-most priority on high-quality output and have systems in place for proofreading and plagiarism checks so that you get original content worth every penny.

A Guide to Selecting a Research Paper Writing Service

Deciding to hire expert help is only half the battle won. The next step is choosing the right professional research paper writing service, and here are some factors you should consider.

Firstly, check writers’ qualifications – their academic degrees, areas of expertise, and experience in research-intensive writing. This assurance lays the foundation for trust in their ability to deliver quality output.

Secondly, read customer reviews – testimonials from past clients will give insights into a provider’s work ethics, commitment to deadlines and satisfaction rates. These aspects are valuable in assessing reliability.

Thirdly, examine their commitment towards originality – it’s crucial that they don’t resell old papers but provide customized content with zero plagiarism guarantee. Check if they offer a detailed report confirming the originality of your paper.

Lastly, but importantly – clear and concrete guarantees should back every aspect discussed above! From timely delivery and revision policies to privacy safeguards, a reliable service puts all these agreements upfront so you can outsource your assignments confidently.

Remember, this isn’t just about getting tasks done; it’s an investment towards smart learning strategies designed for success.

The Voyage Towards Academic Serenity

It’s evident that enlisting the help of expert research paper writers can be tremendously advantageous for students grappling with academic stress. By presenting a feasible alternative to buckling under the strain of overwhelming assignments, these professional services offer a lifeline towards better time management and improved emotional well-being.

This approach does not only subtly shift your perception of challenging coursework as a massive burden but also transforms it into an opportunity for strategic task delegation. It’s about empowering yourself to make smart decisions based on your individual circumstances and goals – essential skills required far beyond the campus boundaries.

With meticulous professionals squarely in your corner — delivering quality work within stipulated deadlines and reducing academia-induced stress — channeling energies into passions, focusing on comprehensive learning or just catching up on much-needed rest becomes so much more achievable.

The academic storm might loom large, but remember that you hold the power to navigate through it successfully. Harnessing expert assistance could be your lighthouse amidst those choppy waters, steering you safely across turbulent semesters towards a harbor of effective learning, balanced lifestyles, and serene scholastic journeys.

Embrace Academic Empowerment

So, are you ready to change your academic narrative for the better? Instead of wrestling with sleeplessness and stress, wouldn’t you rather reclaim control over your schedule and overall student life?

Unleash the power of expert research paper writers to re-position yourself more favorably in academia’s challenging landscape. It isn’t just about lighting a way out from under piles of stringent assignments but also about illumining broader pathways towards enriched learning experiences.

Embrace the opportunity. Explore the numerous competent research writing services available; scrutinize their offerings, gauge reviews, draw comparisons – make an informed choice that aligns with your needs and budgets.

Outsourcing those daunting research paper tasks could be the key to unlocking a less stressful college experience, one that places equal emphasis on wellness as it does on intellectual growth. Remember, education is not only about tirelessly chasing grades but also garnering insights into managing responsibilities smartly – skills that go beyond classrooms and remain lifelong assets.

Take action today! Lean into this support system designed for empowerment—let it navigate you effectively through academia’s rough currents while propelling you closer towards the shores of success.

Supreme Court Nigeria Fixes Oct 23 to Hear Atiku, Obi and APM’s Appeals Against Tinubu

0

The Supreme Court has slated Monday, 23 October, to hear three appeals contesting the decision of the Presidential Election Petition Court that upheld President Bola Tinubu’s election victory.

The announcement came from the court’s registrar, Zainab Garba, on Thursday.

The appellants in the case are Atiku Abubakar of the Peoples Democratic Party, Peter Obi of the Labour Party, and the Allied Peoples Movement (APM). They are urging the Supreme Court to nullify the Presidential Election Petition Court’s ruling that affirmed Mr. Tinubu’s victory on September 6.

The Presidential Election Petition Court, led by Justice Haruna Tsammani, had dismissed the suits on the grounds that the petitioners failed to substantiate their allegations of electoral fraud against Nigeria’s electoral commission, INEC, and Mr. Tinubu.

Atiku Abubakar’s Appeal

In Atiku’s appeal, his lead lawyer, Chris Uche, presented the case on 35 grounds. Uche, a Senior Advocate of Nigeria (SAN), argued that the Presidential Election Petition Court erred in its verdict. He contended that the court failed to adequately evaluate Atiku’s evidence before reaching its conclusions and also criticized the use of “disparaging words” against Atiku, which he claimed showed bias.

Additionally, Atiku filed fresh evidence concerning President Tinubu’s academic records obtained from Chicago State University in the United States. Although the issue was previously dismissed by the presidential election court, Atiku intends to reinvigorate it with the newly acquired documents.

Peter Obi’s Appeal

Peter Obi’s appeal, presented by his lawyer Livy Uzoukwu, consists of 51 grounds challenging the Presidential Election Petition Court’s judgment. Uzoukwu, a SAN, argues that the PEPC reached incorrect conclusions. He criticized the court’s evaluation of Mr. Obi’s evidence, asserting that it wrongly ruled on the failure to establish polling stations where electoral malpractices occurred during the presidential election.

APM’s Suit

The Allied Peoples Movement (APM) based their appeal on the alleged improper nomination of Vice President Kashim Shettima, President Tinubu’s running mate. APM’s lawyer, Chukwuma-Machukwu-Ume, a SAN, predicated his client’s suit on 10 grounds. He asked the Supreme Court to nullify the Presidential Election Petition Court’s verdict for its numerous errors in law.

President Tinubu, INEC, and other respondents have urged the apex court to dismiss the appeals, arguing they lack merit and that the court’s previous decision affirming Mr. Tinubu’s victory was correct.

As Nigeria gears up for these crucial legal proceedings, the nation awaits the Supreme Court’s decision, which will have far-reaching implications on the political landscape. The court’s ruling will play a pivotal role in determining the future course of Nigerian politics.

Atiku’s fresh evidence from the CSU is expected to significantly impact the case. The former Vice President had urged the Supreme Court to jettison technicality and grant his application, arguing that the Nigerian presidency is too big to be tainted by the issue of certificate forgery.

“The need to rebuff, eschew, and reject technicality and the duty of the court to ensure substantial justice is very germane in this matter, given the gravity of the constitutional issue involved in deciding whether a candidate for the highest office in the land, the office of President of the country, presented a forged certificate or not,” he said.

Nigeria’s Economic Outlook: PwC Projects 2.8% Growth in 2023, 3% Increase in 2024

0

 PricewaterhouseCoopers (PwC) Nigeria has released its bi-monthly economic outlook for October 2023, shedding light on the country’s economic trajectory and the challenges it faces in the coming years. The report, which considers the impact of global economic trends on Nigeria’s foreign exchange, presents a nuanced picture of the nation’s financial outlook.

According to the report, PwC projects a 2.8% growth rate for Nigeria in 2023, with an expected increase of 3% in 2024. While the growth forecast is promising, it is underpinned by a series of economic dynamics and challenges that require careful navigation.

Inflation and Cost of Living: PwC’s report indicates that inflation is likely to surge in the short to medium term. This is attributed to increased petroleum prices and a devalued naira, which will impact food, transportation, and non-food prices. As the cost of consumer goods rises, consumers are expected to face higher prices, potentially leading to a decrease in demand.

Petroleum Prices and FX Implications: The rise in international oil prices is expected to drive up the cost of petroleum products. This, in turn, will impact food, transport, and core inflation rates. Consumers may feel the pressure of these higher prices, potentially resulting in reduced demand. Furthermore, the lack of wage adjustments proportionate to inflation may exacerbate the situation.

Policy and Leadership Changes: The report highlights several significant developments, including the installation of a new ministerial cabinet to drive economic direction and fiscal policy management. Additionally, the implementation of the Finance Act 2023, which introduces key reforms for expanding the tax base, is set to have an impact.

Foreign Exchange Uncertainty: The lack of clear guidance on foreign exchange (FX) policy and unsettled FX obligations backlog are expected to continue affecting investor sentiment. The reintroduction of Bureau de Change (BDCs) is seen as a potential solution to address the devaluation of the naira in the short to medium term. The appointment of a new Central Bank of Nigeria (CBN) governor and management team is anticipated to shape monetary policy direction.

Economic Growth and Investment: Continued inflationary pressures and a rise in the cost of living may lead to marginal real economic growth in the medium term. PwC’s projections foresee a 2.8% growth rate for Nigeria in 2023, increasing to 3% in 2024.

Investment and FX Concerns: Capital reallocation from Nigeria’s economy is seen as a potential obstacle to foreign investment flows. Investors may adopt a cautious “wait and see” approach due to the lack of clarity in FX policy, which may lead to a scarcity of goods and inputs for manufacturing and trade, further driving up prices.

Government Spending and Consumer Demand: Government spending is expected to increase, but it will continue to be constrained by debt servicing obligations and a substantial fiscal deficit. A rise in energy, food, transportation, and import costs is likely to dampen consumer spending on non-discretionary items.

Production and Net Exports: High FX rates are expected to drive up the cost of goods and services, negatively impacting firm performance. Businesses may face challenges due to increased interest rates and devaluation losses. In the short term, the reintroduction of BDCs (bureau de change) and the adoption of the FX Price Verification System are aimed at improving FX accessibility and accountability. PwC projects a 1.6% decline in industrial production in 2023, with a growth of 6.7% in 2024.

Global Economic Trends: PwC’s report also underscores the impact of global economic trends on Nigeria’s outlook, including concerns about the cost of funding, capital reallocation, trade balance, remittances, and declining confidence due to fiscal deficits and debt servicing ratios.

Global GDP growth is expected to slow down with economic projections falling short of historical growth. IMF projects that GDP growth in the United States, the EU and the UK is expected to decline to 1.8%, 0.9% and 0.4% respectively in 2023.

“A weak global economic growth may negatively affect remittance flows into the economy. The decline in remittance flows may reduce FX flows to the economy. Though remittances to Nigeria accounted for 38% of the total flows to the region, it increased by only 3.3% to $20.1 billion,” the firm said.

As Nigeria navigates these economic challenges and opportunities, the path to sustained growth remains a complex endeavor. It will require astute policy management and strategic decision-making to mitigate the potential pitfalls and leverage the opportunities that lie ahead.