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THE FINTECH PROFITABILITY REPORT: Why fintechs are struggling to turn a profit, and the hurdles they must overcome to see success

“In a new report, Business Insider Intelligence explores the reasons why fintechs are struggling to turn a profit, providing examples of the unique problems each segment of fintech faces” writes Sarah Kocianski for businessinsider.com. Despite having innovative ideas and live products that are successfully disrupting the financial services industry, these fintechs’ business models are increasingly proving to be fundamentally flawed.We also outline what some firms are doing to overcome these challenges, and highlight the key factors to be considered by fintechs, and their investors, if they want to reach profitability. Source:…

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GoPro stock on track for best day in a year after results beat expectations

“The company on Thursday afternoon posted better-than-expected financial results and management spoke of profitability goals” writes Emily Bary for marketwatch.com. GPRO, +19.50% are up 18.6% in Friday morning trading and are on track for their biggest single-day percentage gain since this time last year.He rates the stock at neutral with a $7 price target.He rates the stock at perform. Source: marketwatch.com Share This:

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How the digital age has changed profitability for the music and video gaming industries

“Historically, I avoided investing in the music industry or the video game industry as they were volatile industries, with fading financial returns” writes Lazard Asset Management for businessinsider.com. Put all these factors together and you get a video game industry that has been transformed.Their FIFA obsession tells the story of how digital disruption has affected video game companies as well.The digital revolution will continue to push profitability in both the music and the video game industry, so investors should watch this market with a renewed, digital-focused, view.The music industry has…

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Amazon shares rise after Wall Street gushes over internet giant’s surging profitability

“Terry raised his price target to $2,300 from $2,100 for Amazon shares, representing 27 percent upside to Thursday’s close” writes Lindsey Wasson for cnbc.com. Operating profit margin came in at 5.6 percent versus the 3.2 percent FactSet analyst estimate for the quarter.Nomura Instinet reaffirmed its buy rating for Amazon shares, saying the internet giant may be able to squeeze more profits from its other expenses too.Goldman Sachs reiterated its buy rating for Amazon shares, citing the company’s rising profit margins. Source: cnbc.com Share This:

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Nucor profit doubles as Trump’s steel tariffs drive demand higher

“Nucor posted the highest second-quarter profit in its history as the steelmaker ramped up output to meet demand from President Trump’s 25 percent tariffs on imports from overseas competitors” writes Martin Meissner Associated for washingtonexaminer.com. The Charlotte, N.C.-based company has benefited as Trump’s duties reduced so-called dumping of illegally subsidized metals in the U.S. from foreign producers, said Chief Executive Officer John Ferriola.”The primary driver of the improved performance was our steel mills segment, which experienced higher average selling prices and increased profitability across all steel mill product groups, with…

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Deutsche Bank CEO: We won’t get rid of our US unit despite failing Fed bank stress tests

“Deutsche Bank CEO Christian Sewing told CNBC on Friday the German banking giant remains committed to its U.S. unit even after failing the second round of annual Federal Reserve stress tests” writes Matthew J for cnbc.com. Last week, Deutsche Bank cleared the Fed’s easier first stress test hurdle, which measured capital levels against a severe recession, the strictest scenario ever run by the U.S. central bank. Cryan was ousted after investors had lost faith that he could return the bank to profitability after three consecutive years of losses.Responding to rumors…

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Crypto News Platforms 

Cryptocurrency platform EXMO scales profitability with margin loans

“EXMO aims to change that with the launch of the EXMO Coin to attract additional investment capital” writes Vb Staff for venturebeat.com. The value of EXMO Coin will correlate with EXMO`s overall performance, as well as exchange rates of other currencies on the platform.The company says that EXMO token value depends on factors such as the popularity of margin trading on the crypto market, as well as the speed of overall EXMO exchange platform development.Half of the investment raised through the crowdsale will be leveraged to meet the increasing demand…

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Tesla to cut 9pc of jobs as it seeks profitability

“Tesla announced on Tuesday that it would cut 9pc of jobs across the company” writes James Cook for telegraph.co.uk. Chief executive Elon Musk said in an internal memo that his company’s growth had lead to what he called “duplication of roles”. “Given that Tesla has never made an annual profit in the almost 15 years since we have existed, profit is obviously not what motivates us,” Musk wrote in the internal memo announcing the job cuts. “What drives us is our mission to accelerate the world’s transition to sustainable, clean…

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Tesla lays off 9% of its workforce in pursuit of profitability

“The company will seek to re-employ most Tesla employees at Home Depot stores at its own locations” reports venturebeat.com. (Reuters) — Electric car maker Tesla is cutting several thousand jobs across the company as it seeks to reduce costs and become profitable without endangering the critical production ramp-up for its Model 3 sedan. Source: venturebeat.com Share This:

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UBS: Sell Tesla shares because carmaker will need to raise capital in the fourth quarter or earlier

“UBS reaffirmed its sell rating for Tesla shares, predicting the company will need to raise capital by year-end” writes unknown author for cnbc.com. In April Tesla said in a statement it did not require an additional capital raise this year apart from credit lines.Later that month Elon Musk also said on social media the company had “no need to raise money.”. “The market should not ignore fundamental headwinds that persist with regard to TSLA’s Model 3 profitability, stationary storage, and solar,” he said.The analyst predicts the company will burn about…

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