How They Make Money

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How They Make Money
How They Make Money
๐Ÿ“Š PRO: This Week in Visuals

๐Ÿ“Š PRO: This Week in Visuals

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App Economy Insights
Nov 09, 2024
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How They Make Money
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๐Ÿ“Š PRO: This Week in Visuals
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Welcome to the Saturday PRO edition of How They Make Money.

Over 160,000 subscribers turn to us for business and investment insights.

In case you missed it:

  • โ˜๏ธ Amazon: Still Day 1 For AI

  • โ™พ๏ธ Meta: AI Killed The Video Star

  • ๐Ÿ”Ž Google: Little Engine That Cloud

  • ๐Ÿ’ป Microsoft: Capacity Constrained


  • ๐Ÿ“ง Free members get our Friday articles and sneak peeks.

  • ๐Ÿ’Œ Premium members receive monthly reports with 200+ companies visualized, one extra weekly article, and access to our archive.

  • ๐Ÿ’ผ PRO members enjoy everything in Premium, plus our Saturday timely coverage of the most important earnings of the past week.


Today at a glance:

  1. ๐ŸฆŽ Berkshire: Record Cash Pile

  2. ๐Ÿ‡ฉ๐Ÿ‡ฐ Novo Nordisk: Wegovy Outperforms

  3. โ›ฝ๏ธ Chevron: Permian Growth

  4. ๐Ÿ“ฒ Qualcomm: Smartphone Rebound

  5. โš™๏ธ AMR Holdings: AI Momentum Builds

  6. ๐ŸŒ Arista Networks: Conservative Outlook

  7. ๐Ÿ–ฅ๏ธ Sony: PlayStation Plus Boost

  8. ๐Ÿค MercadoLibre: Profit Dip Amid Expansion

  9. ๐Ÿ•ต๏ธ Palantir: โ€˜Unwaveringโ€™ AI Demand

  10. ๐Ÿ›– Airbnb: Regional Shifts

  11. ๐ŸŽ๏ธ Ferrari: F80 Supercar Debut

  12. ๐Ÿจ Marriott: Lingering Headwinds

  13. ๐Ÿ”’ Fortinet: Cautious Outlook

  14. ๐Ÿ“บ The Trade Desk: High Expectations

  15. ๐Ÿ‡ฐ๐Ÿ‡ท Coupang: Farfetch Lifts Growth

  16. ๐Ÿ”ฒ Block: Mixed Signals

  17. ๐ŸŒฎ YUM Brands: Taco Bell Stays Strong

  18. ๐Ÿซ Hershey: Margin Pressure

  19. โ˜๏ธ Cloudflare: Large-Deal Delays

  20. ๐Ÿ“ข HubSpot: AI-Powered Expansion

  21. ๐ŸŽฎ Take-Two: Strategic Focus Shift

  22. ๐Ÿ” RBI: Tim Hortons Shines

  23. ๐Ÿ“Œ Pinterest: AI-Fueled Growth

  24. โœˆ๏ธ Expedia: International Boost

  25. ๐ŸŽฌ Warner Bros: Studio Struggles

  26. ๐Ÿž Toast: Profitability Momentum

  27. ๐Ÿ‘‘ DraftKings: Growth with a Catch

  28. โ˜๏ธ Dynatrace: Sustained Growth

  29. ๐ŸŒˆ Affirm: Apple Pay Partnership

  30. ๐Ÿฆ‰ Duolingo: AI-Driven Growth

  31. ๐Ÿ  Zillow: Rentals to the Rescue

  32. ๐Ÿ—๏ธ Procore: Go-To-Market Evolution

  33. ๐Ÿ”ฅ Match Group: Slow Turnaround

  34. ๐Ÿš˜ Lyft: Autonomous Partnerships

  35. ๐Ÿ’Š Hims & Hers: Weight-Loss Boost

  36. ๐ŸŒŠ Digital Ocean: Scaling Innovation

  37. ๐Ÿฝ๏ธ Tripadvisor: Core Challenges

  38. ๐ŸŽ“ Docebo: New AI Features


1. ๐ŸฆŽ Berkshire: Record Cash Pile

Berkshire Hathaway ended Q3 with a record $325 billion in cash, underscoring Warren Buffettโ€™s challenge in finding attractive acquisition opportunities. For the first time since 2018, the company refrained from share buybacks, as its stock has climbed nearly 30% this year. Additionally, Berkshire trimmed its Apple stake by 25%, reflecting a strategic effort to manage tax implications and rebalance the tech giant's outsized position in its portfolio.

Operating earnings fell 6%, largely due to a 69% decline in underwriting earnings caused by elevated insurance losses, including damages from Hurricane Helene. Despite these headwinds, Berkshireโ€™s diversified business model and growing cash reserves provide resilience and position the conglomerate to capitalize on future opportunities. For now, Buffett seems content to remain patient, letting the cash pile grow while waiting for the perfect deals.


2. ๐Ÿ‡ฉ๐Ÿ‡ฐ Novo Nordisk: Wegovy Outperforms

Novo Nordisk posted a mixed Q3. Wegovy sales for obesity were up 81% in constant currency to DKK 17.3 billion or $2.5 billion ($0.2 billion beat), while Ozempic sales for diabetes (and used off-label for weight loss) fell slightly short, growing 26% to DKK 29.8 billion or $4.3 billion ($0.2 billion miss). Despite strong demand, particularly in North America, supply challenges and rebate impacts hindered overall sales growth.

The GLP-1 drugs are still on the shortage list, allowing the proliferation of compounded alternatives. Novo continues to work with regulators to address the safety and supply issues of these copycats. The company slightly narrowed its full-year growth outlook to 23% to 27%, but the FY25 forecast of high-teens growth fell short of the 20% expected. Wegovyโ€™s demand remains robust at 215,000 prescriptions per week, up from 100,000 in January.


3. โ›ฝ๏ธ Chevron: Permian Growth

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