reports
- Chris Hoare
Japanese Telcos Q2 FY24 review: Stable growth with better profitabili...
Service revenue slowed for the incumbents but stayed in the low-single digit band, with Softbank still ahead followed by NTT. Mobile divergence continues to play out with SB leading the pack and is likely to remain so in our view. Industry EBITDA improved as NTT inflected to growth and led to a strong EBIT beat this quarter.
- Soomit Datta
- Lindsay Whipp
- Chris Hoare
- Soomit Datta
MELI US (Neutral, TP: $2,000, -5%) MercadoLibre Credit cards drive big...
Top line trends were in-line/slightly ahead, with only a very slight slowdown in local FX GMV. However, there was a miss at both the gross profit level (2.5%) and, to an even greater extent, at operating income (25%, 19% ex-one-off) and net income (18%).
- Soomit Datta
TIM Brasil (Buy, TP: R$23, +43%) - Q3 24: In-line trends, Nubank and p...
TIM has delivered solid Q3s, with a small beat at EBITDAaL combined with lower capex intensity to support very strong OpFCF after leases (+23% y/y) this quarter. Growth trends are naturally easing through the year, which is captured within reiterated FY guidance, though is perhaps spooking the market.
- Soomit Datta
Money 20/20 USA - Key takeaways
While still recovering from the whirlwind of information we’re taking an initial crack at summarizing some of the key takeaways from attending the annual Money 20/20 USA jamboree in Las Vegas last week. While the subject of many discussions was quite predictable—did anybody mention AI?— insight came from conversations around ROI considerations for AI, Open banking/finance use cases and compliance, Real-time payments and the ever-present issue of Fraud.
OpenTable et Visa s’unissent pour offrir un accès exclusif à des expér...
OpenTable et Visa s’unissent pour offrir un accès exclusif à des expériences gastronomiques au Canada Les titulaires de cartes Visa Infinite Privilegeᴹᴰ admissibles auront désormais accès à des réservations en temps de fort achalandage dans divers restaurants d’un bout à l’autre du Canada, notamment à Toronto, Montréal, Vancouver et Calgary TORONTO, 31 oct. 2024 (GLOBE NEWSWIRE) -- Aujourd’hui, OpenTable, un leader mondial en technologies du domaine de la restauration, et Visa, un chef de file mondial en paiements numériques, ont annoncé une collaboration qui offrira aux titulaires de...
OpenTable and Visa Team Up to Offer Exclusive Dining Access in Canada
OpenTable and Visa Team Up to Offer Exclusive Dining Access in Canada Eligible Visa Infinite Privilege® cardholders can now unlock access to primetime restaurant reservations across Canada, including Toronto, Montreal, Vancouver, and Calgary TORONTO, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Today, OpenTable, a global leader in restaurant tech, and Visa, a world leader in digital payments, announced a collaboration that will offer eligible Visa Infinite Privilege cardholders access to high-demand and sought-after primetime restaurant reservations at restaurants in Toronto, Montreal, Vancouver...
- Soomit Datta
- Soomit Datta
NU US (Neutral, TP: $13, -8%) Nubank - Fintech disrupting Telcos? Spo...
Nubank’s MVNO launch in Brazil, first discussed earlier this year, appears imminent based on local press. We don’t think it’s a business model designed to be disruptive to the telcos but given Nubank’s huge scale (80m+ actives in Brazil) it will be worth watching and we model out a scenario analysis here.
Moody's Ratings announces completion of a periodic review of ratings o...
Moody's Ratings (Moody's) has completed a periodic review of the ratings of Mastercard Incorporated and other ratings that are associated with this issuer. The review was conducted through a rating committee held on 9 October 2024 in which we reassessed the appropriateness of the ratings in the con...
NTT DATA Collaborates with Leading Academic Medical System on New Mode...
PLANO, Texas--(BUSINESS WIRE)-- , a global leader in healthcare IT, and Duke Health, a world-class academic and healthcare system, are collaborating to create a highly interactive and technologically advanced model for augmented home care delivery. This new home-care model will integrate multiple technologies, including a GenAI-driven virtual agent from Ellipsis Health, automation, device interoperability, remote patient monitoring and a patient app and portal. The solution will keep medical staff in direct contact with the patient to ensure a human is always in the loop while allowing patien...
- Pelham Smithers
- Soomit Datta
MercadoLibre (Neutral, TP: $2,000, +2%) - Credit card headwinds; comps...
Revisiting (and remodeling) MercadoLibre’s lending business, Credito, gives us more insight into credit card economics. In the very near-term, as low/zero NIMAL credit cards proliferate, group profitability will remain under some pressure; consensus NIMAL expectations of >30% for the coming years look exposed – we’re at 26% in 2025.
Mastercard Inc: 1 director
A director at Mastercard Inc sold after exercising options/sold 4,686 shares at 491.030USD and the significance rating of the trade was 75/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors ov...
- Chris Hoare
Japanese Telcos - Takeaways from Meetings with the Japanese Telcos + R...
We met with all 3 of the incumbent Japanese Telcos & Rakuten in Tokyo this week. Every time we visit, we are reminded of how much better the telco industry is in Japan vs other DMs, as the MNOs continue to expand their scope of operations beyond traditional telco driving higher returns and growth.
Moody's Ratings assigns Aa3 rating to Mastercard's senior unsecured no...
Moody's Ratings (Moody's) assigned an Aa3 rating to Mastercard Incorporated's ("Mastercard") proposed senior unsecured notes issuance. The rating outlook is stable. The net proceeds from the debt issuances are expected to be used for general corporate purposes. RATINGS RATIONALE Mastercard's Aa3...
City of Brownsville, Texas, Taps NTT DATA to Build Connected City With...
PLANO, Texas & BROWNSVILLE, Texas--(BUSINESS WIRE)-- a global digital business and IT services leader, has been selected by the , to deploy NTT DATA’s Smart Solutions and Private 5G (P5G) wireless connectivity. The city seeks to enhance citizen services, increase public safety, achieve sustainability and effectively manage growth by leveraging real-time data analytics and AI empowered by a seamless and secure wireless network. “The future is coming to life in Brownsville today as we partner with NTT DATA to set a new standard for smart, connected and sustainable cities,” said John Cowen, Jr...
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