Pearls of Wisdom

With the latest round of quarterly earnings almost complete, we once again turn to company management for inspiration
Tony Sutton

Sintra Capital

On cloud nine

“We are off to a strong start to the fiscal year, driven by the continued strength of the Microsoft Cloud, which surpassed $31.8bn in quarterly revenue, up 24%.” Satya Nadella, CEO, Microsoft

Can’t beat the feeling

“Consumer sentiment continues to vary around the world. We've seen some shift to discount channels and switching to private label brands in a few markets and categories. The intensity of this was less pronounced in the U.S., Australia and Japan.” James Quincey, Chairman & CEO, The Coca-Cola Company

Life is a highway

“In the quarter, hybrid deliveries reached 51% of total deliveries, surpassing that of ICE for the first time.” Antonio Piccon, CFO, Ferrari

Yo ho, yo ho, a pirate’s life for me

“One Piece is a very unique property. It was created 26 years ago by Eiichiro Oda. It is over 1,000 episodes of animated series based on Japanese Manga. It's nearly sacred IP. We were able to adapt this into a show that the world fell in love with. This show is #1 in 84 countries around the world.” Theodore Sarandos, Co-CEO & President, Netflix

You’ve got to know when to hold ‘em

“In Sports, customer favourable outcomes in Premier League and European Football were a 12% headwind to revenue growth in the quarter, taking it from a 16% to a 4% increase (Adjusted EBITDA impact of GBP 50m).” Paul Edgecliffe-Johnson, CFO, Flutter Entertainment

Can’t you feel the sound moving through the ground?

“We're forecasting to hit more than 600 million monthly active users at the end of the year. This puts us well on our way to reaching more than 1 billion global users by 2030.” Daniel G. Ek, Founder, CEO & Chairman, Spotify

Music makes the world go around

“Our estimates suggest that at a cost of $0.10 per hour, music subscription is dramatically underpriced with respect to, for example, online video or online gaming or other forms of entertainment.” Michael Nash, Chief Digital Officer, Universal Music Group

Only in America

“Our customers continue to favour more premium beverages. To fuel this, we continue to innovate, offering our Iced Pumpkin Cream Chai Tea Latte, which boosted tea sales; as well as Pumpkin Cream Cold Foam.” Rachel Ruggeri, CFO, Starbucks

Hello darkness, my old friend

“For me, the single most important factor in booking a hotel is that I can get a quiet night sleep. We are now leveraging our data to provide a clear signal about the noise level of a particular hotel.” Matthew Goldberg, President & CEO, Tripadvisor

Country roads, take me home

“We now leverage generative AI to scrape reviews to answer traveller questions - So no more sorting through hundreds of reviews to find out how strong the WiFi is, the quality of the pool, or whether you're going to like the breakfast.” Peter Kern, CEO, Expedia Group

Sail away with me

“We have more than 130,000 guests sailing on our ships every day and millions more who book or engage with us throughout our commercial platforms. Our customers' sentiment is bolstered by strong labour markets, high wages, surplus savings, and elevated wealth levels. Even better for us is the fact that overall spend on experiences continue to grow.” Jason Liberty, President & CEO, Royal Caribbean Cruises

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Sintra Capital Pty Ltd believes the above information is accurate at the time of compilation. However, no warranty is made as to the accuracy or reliability of any estimates, opinions, conclusions, recommendations or any other information contained in this note and any attachments. Sintra Capital Pty Ltd disclaims all liability and responsibility for any loss or damage which may be suffered by any recipient through relying on anything contained in or omitted from this information.

Tony Sutton
Portfolio Manager
Sintra Capital

Tony has extensive experience in international equities having worked in both London and Australia. Tony was formerly senior portfolio manager and head of international equities at K2 Asset Management (2016-2022). Prior broader market roles...

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