Eternal Shares Touch Record High After Revenue More Than Doubles
Eternal Ltd. shares jumped as much as 15% to touch a record high after the Indian e-commerce platform operator reported sales that beat analyst estimates, showing resiliency amid tough competition.
Quarterly revenue in its quick-commerce segment reached 24 billion rupees ($278 million), more than double the year-ago figure. Though its net income tumbled 90%, analysts were impressed by Eternal's ability to grow sales despite the recent entry of Amazon.com Inc. and Walmart Inc.'s Flipkart India Pvt. to the market.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
42 minutes ago
- Yahoo
Crowded by EV Rivals, Tesla Preps For Critical Earnings Report
For what feels like the third or fourth time in a row now, Tesla is gearing up for what may be the most important earnings call in its history. The electric vehicle maker reports after the bell today, holding its first call with analysts and investors at the dawn of a new era that finds the company squeezed between increased competition and a high-stakes feud involving its enigmatic CEO and the US federal government. At stake are billions in lucrative tax credits. Buckle up, things could get pretty bumpy. READ ALSO: Tariffs 'The World Can Live With': US-Japan Trade Pact Pushes Markets to Record Highs and Amazon, Meta Wear AI-mbitions on Their Wrists Credit Score After something of a shareholder mutiny earlier this year sparked by his divided attention while serving as an aide to President Trump, Elon Musk has seemingly quelled the critics. Now, Tesla must confront its myriad headwinds. First and foremost: The regulatory credits Tesla sells to combustion-engine carmakers to offset their tailpipe emissions. Selling the credits has been big business for Tesla, generating more than $10 billion in revenue since 2019 and accounting for a substantial portion of its free cash flow in 2024. Recent legislation, however, eliminates the hefty fines that traditional automakers face for failing to reach emissions standards, thus reducing the demand for Tesla's carbon credits. Tesla's credit sales already dipped in the first quarter, generating revenue of just $595 million compared with $692 million in the final quarter of 2024. Analysts at William Blair and Co. recently projected that revenue in the category might fall by 75% next year, and be virtually eliminated by 2027. Analysts at Piper Sandler, meanwhile, are slightly more bullish, recently projecting that 'Tesla will still book around $3B in credits this year, followed by $2.3B in 2026.' Many legacy automakers have long-term contracts for carbon credits from Tesla. Still, those same legacy automakers are suddenly catching up to Tesla in the EV realm: While Tesla remains the EV king in the US, its sales are shrinking just as rivals' are growing. The Automotive News Data Center estimates that Tesla sold 125,000 EVs in the US in the second quarter, down almost 17% year-over-year (Tesla doesn't break down its delivery figures by region). GM, meanwhile, reports that it sold 46,280 EVs in the second quarter and 78,167 EVs so far this year, representing a 111% increase from 2024. That puts GM's domestic EV market share at around 13%, while most estimates peg Tesla's once-dominant US market share at just 43% now. 'GM is quietly building trust while Elon burns it,' Paul Waatti, director of industry analysis for AutoPacific, recently told USA Today. Bleep Bloop: Still, Tesla has a sky-high forward price-to-earnings ratio for a reason. Thus far, at least, Musk has been able to sell investors on a future of self-driving cars and robotics. A robotaxi pilot program launched in Austin, Texas, earlier this summer. 'Outside of guidance, the market will likely be focusing on the robotaxi business, which had to navigate a slew of weather problems,' David Wagner, head of equity and portfolio manager at Aptus Capital Advisors, told The Daily Upside. 'The company has a 'hopes and dreams' multiple, so anything focusing on [autonomous vehicles], robotics and the other innovative products should be the focal point.' This post first appeared on The Daily Upside. To receive delivering razor sharp analysis and perspective on all things finance, economics, and markets, subscribe to our free The Daily Upside newsletter. 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
2 hours ago
- Yahoo
Walmart bets on AI 'super agents' to boost e-commerce growth
STORY: Walmart is deepening its push into AI, unveiling four new "super agents" on Thursday, aiming to improve the shopping experience and better compete with rival retailers. Powered by agentic AI - which needs minimal human intervention - the super agents will serve as primary entry points for every AI interaction with Walmart shoppers, store employees, suppliers and sellers, and software developers. The new agents will replace several existing AI tools, and the retailer hopes they'll attract more shoppers away from Amazon, which has its own range of AI-powered tools. One of Walmart's agents, Sparky, is already available on its app as a Gen-AI powered tool, where it currently assists customers with product suggestions, such as athletic wear or the right ink for a printer. In its "super agent" form, Walmart says Sparky will be able to plan themed parties and offer product recipes by looking at the contents of a shopper's fridge through its computer vision. Another super agent, Marty, is being developed for sellers, suppliers, and advertisers in an effort to streamline the onboarding process, manage orders and create ad campaigns. Walmart declined to say whether the super agents would replace human jobs.
Yahoo
2 hours ago
- Yahoo
BYD to start first car assembly in Pakistan by mid-2026
China's BYD has announced plans to commence the assembly of its first electric car in Pakistan by July or August 2026, aiming to meet the increasing electric and plug-in hybrid vehicle demand in the region, a company executive said, according to Reuters. This development comes as part of BYD's strategic expansion in the Asia-Pacific market and follows the company's plan to initiate vehicle sales in Pakistan last year. Switch Auto Insurance and Save Today! Affordable Auto Insurance, Customized for You Great Rates and Award-Winning Service The Insurance Savings You Expect BYD Pakistan sales and strategy vice president, Danish Khaliq, revealed to Reuters that the new assembly plant, currently under construction since April near Karachi, represents a collaboration between BYD and Mega Motor Company, a subsidiary of Pakistani utility Hub Power. The facility is expected to have an initial production capacity of 25,000 units annually on a double shift schedule. However, he did not provide details on when the plant would reach full capacity or when mass production would start. Khaliq further explained that the plant would begin by assembling imported parts and locally producing non-electric components. The initial focus will be on supplying the domestic market, with the possibility of exporting to other right-hand drive countries in the region if it makes economic sense. BYD has already commenced delivering imported EVs in the country since March, with sales surpassing internal targets by 30%, although exact numbers were not disclosed. The market for EVs and plug-in hybrid cars in Pakistan is expected to grow significantly, with Khaliq anticipating a three to fourfold increase by 2025 from around 1,000 units last year. Khaliq noted that BYD is aiming for a 30-35% market share in this segment. According to a HUBCO filing, BYD Pakistan reported a profit of around PKR444m ($1.56m) in the March quarter of this year. The Pakistani market is set to welcome the upcoming launch of BYD's Shark 6 plug-in hybrid pickup truck. The Pakistani government is promoting EV adoption by reducing power tariffs for chargers by 45% in January and encouraging the establishment of private charging stations, addressing the current lack of infrastructure for all-electric vehicles. "BYD to start first car assembly in Pakistan by mid-2026 – report" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
