Netflix shows continued profitability
Netflix (NFLX/NASDAQ) shareholders were upbeat Thursday, as they saw shares rise 5% in after-hours trading after another stellar earnings announcement. (All figures are in US dollars.) Earnings per share came in at $5.40 (vs. $5.12 forecast) and revenue was $9.83 billion (vs. $9.77 billion).
Paid memberships also beat expectations, at 282.7 million, compared to the 282.15 million forecast by analysts. Netflix has increased viewership for new shows such as The Perfect Couple, Nobody Wants This again Tokyo Swindlersand new seasons of favorites Emily in Paris again Cobra Kai. Looking ahead to the next quarter, Netflix is banking on a new season of Squid game and its entry into the world of live sports. Two National Football League (NFL) games and the much-anticipated boxing match between Jake Paul and Mike Tyson represent new attractions for the broadcasting giant.
United Airlines shares skyrocket
Tuesday was a big earnings day for United Airlines (UAL/NASDAQ) as earnings per share came in at $3.33, beating the $3.17 analysts were predicting. (All figures are in US dollars.) Revenue was $14.84 billion (vs. $14.78 billion forecast). Shares were up 13% on outperformance and news that the airline was starting a $1.5-billion share buyback plan.
Business revenue rose more than 13% year-on-year, while basic economy seat sales posted an impressive 20% increase. Last week, the company announced new international routes to Mongolia, Senegal, Spain, Greenland and more.
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The dragon of inflation has been slain
It doesn't seem like a long time ago that annual inflation rates were above 8%, and it seems like it won't stop. After all, the end has come. Statistics Canada announced this week that the annual Consumer Price Index (CPI) for September inflation fell to 1.6%. That's well below the Bank of Canada's 2% target.
Led by inflation in clothing and footwear, as well as transportation, the decline appears to be widening. Gasoline is also down 10.7% from this time last year.
Source: Statistics Canada
Of course, rising housing costs remain a major concern for many Canadians. Rent increases increased by 8.2% year-on-year; while that's down from August's figure of 8.9%, it's still a bitter pill to swallow for many.
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