Netflix Inc (NASDAQ:NFLX)'s “paid sharing” model has and will continue to drive subscriber and revenue growth for the streaming service, its third quarter results released after the closing bell on Wednesday clearly demonstrated.
The streaming group’s earnings were in line with or ahead of forecasts and it added an impressive 8.8 million subscribers during the three-month period, with the “cancel reaction” to its crackdown on password sharing low according to management.
Rank Group PLC (LSE:RNK), the owner of Mecca Bingo and the Grosvenor casino brand, remained flat in trading on Thursday after it maintained steady growth in all its divisions, with the group on track to deliver its full-year guidance.
Net gaming revenue came in at around £179 million for the quarter, representing an annual increase of 11%, with Grosvenor Casino sales accounting for around £84 million of overall figures, a trading update revealed.
The board of Hipgnosis Songs Fund (LSE:SONG) launching a strategic review today, including a potential break-up with founder Merck Mercuriadis' management company, is a strange move, analysts said, as the upcoming shareholder vote could quite well precipitate a similar outcome.
Shareholders are due to vote next Thursday, 26 October, on two issues: first, whether to accept a £440 million sale of some portfolios of song rights to Blackstone and the second is a continuation vote on the future of the investment company.
BP and Shell might be the bane of environmental protestors but in the City, the oil and gas duo can do no wrong currently.
Two heavyweight brokers this week upgraded their forecasts for the duo, with a big chunk of the upgrade related to their shift (or not) towards greener fuels.
Fenwick, the premium department store, swung back to a profit in 2022 after it sold its Bond Street store for around £430 million, reports for Retail Week revealed.
As a rival to John Lewis Partnership, the group echoes many of the struggles seen by the Waitrose owner, having experienced losses of around £60 million.
Netflix Inc (NASDAQ:NFLX) quarterly earnings were well received by analysts, who said subscriber growth was stronger than expected, indicating that the 'paid sharing' initiative is driving more subscriber growth than the market was expecting.
Alongside the video streaming group's third-quarter earnings report, which showed paid subs and earnings ahead of Wall Street expectations, management indicated call that the roll-out of the password sharing crackdown has been positive for revenue in every region and cancel reaction has been low.
Tate & Lyle PLC (LSE:TATE) sales face a hit from the rising tide of weight-loss products which could pose a threat to growth for ultra-processed foods.
The food industry has been facing up to the threat from weight loss products which mimic a hormone called glucagon-like peptide-1 (GLP-1), which slows digestion and depresses appetite.
Rightmove PLC (LSE:RMV) shares plunged 11% following news of a takeover bid for its rival OnTheMarket PLC (AIM:OTMP) from US peer CoStar.
Analysts said the move will ratchet up competition in the UK, as well as remove a potential bidder for the online property portal.