The Internet Of Things Grows Wings

One of the perplexing things about markets is that sometimes headlines don’t necessarily match the reaction in markets. And that was certainly the case today in struggling media giant Warner Bros. Discovery. 📰

The Hollywood Reporter wrote an article boasting that Warner Bros became the first Hollywood conglomerate to turn a full-year streaming profit ($103 million).  

Dating apps are a tricky business in the post-pandemic world, with investors continuing to swipe left on Bumble after its latest earnings report. 📰

The company behind dating apps Bumble, Badoo, and Fruitz said a slowdown in user spending caused it to miss first-quart revenue expectations. As a result, new CEO Lidiane Jones’ first move is to cut 350 roles, costing $20 to $25 million in one-time charges over the first two quarters. ✂️

As we’ve discussed, speculation continues to spread to all corners of the market. Even those areas that have been left for dead for quite some time. Today’s example of this is Jumia Technologies, the “Amazon of Africa” that caught wildfire early in its life before the gravity of reality brought it back down to earth. 🛒

The company reported reducing its losses by over 90% in the fourth quarter as it focused on restoring order and gross merchandise value (GMV) growth. Like other struggling companies, it cut costs significantly and leveraged lower tax provisions to help drive the earnings improvement.