World Bank Chief Says Zimbabwe Needs G-20 Help to Exit Debt Trap
The southern African country owes the World Bank and other creditors a total of $21 billion and has tried numerous unsuccessful strategies to restore its access to global capital markets. Those ranged from attempting to repay its debts using the proceeds of metal sales and recently approaching 10 nations for help to raise $2.6 billion to pay its arrears.
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13 minutes ago
- Yahoo
F5 CEO breaks down big Q3 earnings beat
F5's (FFIV) third quarter product revenue grew 26%. That helped fuel the stock, which rose nearly 5% on Thursday. François Locoh-Donou, F5 CEO and President, joins Asking for a Trend to break down the results. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend. F5 reporting solid third quarter results on Wednesday, beating analyst estimates on the top and bottom lines. Here to walk us through the report is F5 CEO Francois Loco de No. Francois, good to see you as always. Um, you reported, Francis, our Q3 results beat. You raised your full year forecast for revenue growth. Investors like what they saw. Your your stock jumped about 5% today, Francois, and today's trade. Walk us through that report. What What are you seeing in the business? Well, we had a very strong quarter, Josh, and the the one big takeaway of the quarter is we had 26% product revenue growth in the quarter, which is the strongest we've had in over 14 years. And if you look at what's driving those trends, it's really two things. One is large enterprises moving to hybrid and multi-cloud architectures. And really F5 has been working to position the company for this hybrid and multi-cloud world uh for for several years now. And we are seeing the benefits of these investments in customers that want to be supported in software as a service, in hardware, and in software, and F5 being the only company that can do all of that. And then the second uh trend that we're seeing with large enterprises is adoption of AI, of course, and getting their infrastructure ready for AI. And those trends are also starting to become tailwinds for F5, uh because we have the ability to move massive massive amounts of data uh at speed and and do so when enterprises are trying to connect data stores to AI models. And so those two are are becoming tailwinds in our business and and reflected in the results that we saw yesterday. You're kind of leading me where I want to go, Francois, because in in terms of momentum for your business, I I wanted to ask you more about what is sort of driving that, whether that's simply a, you know, a tech refresh of your install base, Francois, or no, it's it's it's AI. It's something new developing here. Well, you know, tech refresh of our install base is a catalyst and has been strong because we had customers who, you know, a a couple of years ago had been sweating their assets and we're we are seeing uh a snapback of of that and a bit of a catch up on on customers that had not done that. But actually, the strength we're seeing in the business actually goes well beyond that. We're seeing these trends in uh reinvestment in data centers. You know, data center modernization, customers that thought they would go all the way in the cloud, they've gone to the public cloud, they've repatriated applications, and they are now embracing these postures where they're going to have applications in data centers and applications in public cloud, and they need uh partners that can support them across these multiple infrastructure environments. And that's precisely where F5 shines is the ability to support across all these environments. So that's also providing a tailwind in in our business. And then AI is a nacent trend, uh a newer trend that's not yet uh really um material to to the numbers we're seeing now, but we're starting to see really exciting wins uh, you know, in delivering data from data stores to AI models or securing AI applications, and we think that that market is going to grow substantially over the next few years. How is the competitive landscape evolving, Francois? You know, I think of rivals for you, Akamai, Cloudflare. I mean, how is it evolving? What are your competitive advantages? You know, if you look at each delivery model, uh, you know, whether it's hardware or software or software as a service, for each of these delivery models, we will have a different set of competitors. Where we have really virtually no competition is in our ability to support customers in all three delivery models. And we're already seeing that in, you know, a number of wins we had this quarter where a customer may have had a single vendor for SAS security uh or another vendor for hardware uh support in their data center, and they wanted to consolidate on a single vendor, and they are able to consolidate on F5 because of the platform strategy that we've put together, a platform we call our Application Delivery and Security platform, which brings all three of these delivery models together for customers and greatly simplifies uh the complexity that they deal with of delivering and securing all of these applications and APIs every single day. Final question, Francois. Just curious, are are you seeing any kind of macro or tariff-related impact on the business? We have not. As it relates to F5 specifically, we we have architected our supply chain to be very resilient, and so we're we're not getting an impact in terms of supply for F5 uh with tariffs. And in terms of our customers, Josh, if I go back 90 days ago, uh there was quite a bit of uncertainty uh as to whether where things were going to go, and we were a little worried that customers in the face of uncertainty uh would start to temper a little bit their spending. We have not seen any change in in buying patterns or behaviors uh from our customers as it relates to tariffs or the macro environment. So things are pretty stable right now. Francois, always good to see you. Always good to have you on the show. Thank you, sir. Thank you. Related Videos Big Tech earnings surprise, jobs report focus: Market takeaways Coinbase, Reddit, Strategy: After-hours earnings movers Why this analyst gives Amazon's earnings report a B+ Apple Shares Attractive After Sales Beat: Neuberger's Flax Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
13 minutes ago
- Yahoo
Big Tech earnings surprise, jobs report focus: Market takeaways
Yahoo Finance Markets Reporter Josh Schafer joins Asking for a Trend with Josh Lipton to look at three major takeaways from the trading day: the surprising strength of Big Tech earnings and the anticipation of Friday's jobs report. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend. Stocks closing lower as President Trump's tariff deadline and the July jobs report looms. Yahoo finances Josh Shafer joining us now with the trading day takeaways, Josh. Hey Josh, I looked earlier this morning, we had Nasdaq futures up over 1.3%. You had strong earnings out of meta, Microsoft, and it was, oh boy, here comes that AI tech rally, both the Nasdaq and S&P 500 were trading at records at one point today. That didn't quite actually play out with what ended sort of how the day ended. You mentioned there were some trade updates throughout the day, and that seemed to maybe grab some of the headlines, but I still want to focus on the two big beats, cuz you look at it here, meta up over 11% today. Of course, meta coming out with stronger than expected results, also stronger than expected guidance and boosting their capex. Same with Microsoft, Microsoft was up almost 8%, kind of got caught up in that broader selloff, but I wanted to highlight one chart that I think sort of helps explain what investors are looking at when it comes to these companies. I mean, these companies keep hitting record highs. Why are you still buying them? What's going on here? This was a great chart from Jeffries analyst Brent Thill. He highlights Azure growth or sorry, Azure beating estimates, how much did they beat estimates by for that cloud segment for Microsoft that increased 39% year-over-year. Up over four and a half percent for my surprise factor. Look at this chart Josh, that is abnormal, right? The street had come to expect that Microsoft's cloud segment was great, was going to continue growing. It was hard for Microsoft to surprise. Well, you add in this AI element, the segment gets even better than expected, you get this big beat. That's the kind of chart that an investor's going to like to see, right? That growth story is sort of reigniting when it comes to Microsoft right now. So if viewers are watching this and they're looking at these big tech reports and results and reactions for some of them and they're thinking, I don't know, did I miss my spot? I think right now, what we're hearing from some strategists, we spoke with Omar Aguilar from Charles Schwab earlier today, Julie Hyman and I did, he said no, he said, I'm still looking to get into Big Tech and finding opportunities within Big Tech. What Aguilar highlighted, which was rather interesting, is sort of the different parts of this AI trade, right? So even if we just look at our MAG 7 here, we can sort of highlight it. Amazon, Microsoft, meta, those are sort of and we could throw Alphabet in there too, right? Those are cloud plays. And he's saying he's more interested in cloud service type plays. If you look, if I can get over to our AI board here, I'll highlight to you how some of those stocks have been doing really over the last couple months. There's been a big rally in some of those names off the market lows. Look at a Super Micro Computer, that's involved sort of in that space. You also look at a DataDog, that's in that space, right? Salesforce, which I don't think is on here, had had a rally at one point. And so you're seeing that AI trade broaden out and continuing to hear people talk about services. How do I use AI as a service? Being interested in that space. Of course, chips, but also how do we use the AI, right? Cuz meta and Microsoft are certainly telling that story well. All right, Shafer bullet point number two. Josh, jobs report's coming. It's been a long week, but we have an NFP report tomorrow, the July jobs report. So expectations are for 105,000 payrolls, unemployment rate at 4.2, average hourly earnings essentially flat at 3.8. This would be a move higher from 4.1. And then unemployment, or sorry, that non-farm payroll number would be a little bit lower. Economists and previews, team over at Bank of America essentially saying, this is fine. It's not a red hot labor market by any means, but it's not falling off a cliff and it's Cooling, not crashing. and we're still sort of in that space if we get numbers like this. Cooling, not crashing. What did J. Powell have to say about that? J. Powell called the labor market solid yesterday, Josh, and he said that this, by the way, we should note, this is the number one thing he's watching right now. A very smart reporter over there asked him specifically, when I look at that report, Jay, what should I look at? He said the unemployment rate and the unemployment rate at 4.2 is in or 4.1 is in a good spot. And if that were to keep moving higher, that's when maybe the Fed would cut to sort of help out the labor. All right, we'll see what comes tomorrow. Thank you, Josh. Related Videos F5 CEO breaks down big Q3 earnings beat Coinbase, Reddit, Strategy: After-hours earnings movers Why this analyst gives Amazon's earnings report a B+ Amazon Earnings Are 'Mediocre,' Jefferies' Thill Says Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
42 minutes ago
- Yahoo
Coinbase, Reddit, Strategy: After-hours earnings movers
Here are some of the stocks moving in after-hours trading. Coinbase (COIN) shares are falling after reporting Q2 revenue that fell short of estimates. Shares of Reddit (RDDT) are surging after posting second quarter results that topped expectations and issuing better-than-expected Q3 guidance. Strategy (MSTR) posted second quarter revenue that topped estimates, but its cash and cash equivalents fell short. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend. Take a look now at what's trending after hours. Shares of Coinbase fallen after hours. Company reporting second quarter earnings and missing analyst estimates on some key metrics. Total revenue coming in lower. Coinbase reporting a total revenue of $1.5 billion. That was versus an analyst estimate of $1.59 billion. Trading volume also coming in weak for Q2. That came in at $237 billion against estimates of $252.8 billion. Subscription and services revenue that also came in weak at $665 million versus analyst estimates of $745 million. Reddit shares, meanwhile, they are surging after reporting second quarter results. Company topped expectations for revenue and daily active users. Also beating estimates, rising 21% year-over-year. Looking ahead, Reddit providing a better than expected revenue and adjusted EBITDA outlook for the third quarter. And Strategy, reporting a beat on revenue for the second quarter. Overall capital raising activities have resulted in its Bitcoin per share increasing to 25% year to date. The Bitcoin treasury company also lifting its full year BTC yield target to 30% from 25%. Related Videos Big Tech earnings surprise, jobs report focus: Market takeaways F5 CEO breaks down big Q3 earnings beat Why this analyst gives Amazon's earnings report a B+ Apple Shares Attractive After Sales Beat: Neuberger's Flax Sign in to access your portfolio
