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Micro Focus Posts FY Loss

TUI Posts Wider Adj. EBIT Loss In Q1 – Quick Facts

TUI (TUIFF.PK) reported that its first quarter adjusted EBIT was negative at 698.6 million euros compared to a negative EBIT of of 146.7 million euros, previous year. First quarter revenue was 468.1 million euros compared to 3.85 billion euros, last year.

TUI stated that including the third financial package and the early redemption of the senior bond with a volume of 300 million euros due in October 2021, the company had funds of 2.1 billion euros on February 3, 2021.

Google To Close Internal Stadia Game Development Studio

Alphabet Inc’s Google said it will not invest further for bringing exclusive content from its internal development studio SG&E for Stadia games, beyond any near-term planned games.

The company will instead focus on further developing Stadia’s streaming platform and technology and will continue to bring new game titles for Stadia and Stadia Pro from third parties.

In a blog post, Phil Harrison, Vice President and GM, Google Stadia, said that the company expects to help game developers and publishers to take advantage of its platform technology and deliver games directly to their players.

While launching Stadia in 2019, the company’s aim was to make games available instantly from its internal development team. However, the company now said that creating best-in-class games from the ground up takes many years and significant investment, and the cost is going up exponentially.

The latest decision to close down its internal development team reflects the recent successful launch of Cyberpunk 2077 on Stadia, gameplay on all types of devices, including iOS, growing its slate of YouTube integrations, and its global expansions.

The company sees that games streamed to any screen is the future of this industry.

Google also announced that Jade Raymond, who was in charge of Stadia Games, has decided to leave the company to pursue other opportunities. Over the coming months, most of the SG&E team will be moving on to new roles.

Ingraham Goes Off The Rails In Wild Rant Blaming Everyone She Can Think Of

Fox News host Laura Ingraham claims the real insurrection wasn’t the actual insurrection carried out by pro-Donald Trump extremists during a violent assault on the U.S. Capitol last month in an attempt to block the certification of the election.

Instead, she blamed just about everyone else, including President Joe Biden, entertainers Seth Rogen and Steve Carell, immigrants and Black Lives Matter protesters.

Ingraham, who has a history of spreading white nationalist talking points, claimed that Biden has invited “millions” of immigrants to “bust through our borders, exploit our resources and commit crimes.”    

She claimed the Black Lives Matter movement has “stormed our schools” to indoctrinate children. 

Ingraham also somehow blamed actors Seth Rogen, who has sparred on Twitter with Republican Sen. Ted Cruz, and Steve Carell as part of this “insurrection” plot, although she didn’t specify how, as well as tech titans including Amazon’s Jeff Bezos and Facebook’s Mark Zuckerberg. 

She simultaneously claimed undocumented immigrants were being treated better than Americans but were also being used for slave labor, and that it was for big business but also for socialism. 

Then, without irony after she spent the past four years delivering Trump administration talking points, claimed “propagandistic news organizations” were also part of a Biden “insurrection.” 

See her full monologue here. 

TUI sinks to 699 million euros first-quarter loss on travel restrictions

TUI Group, the world's biggest holiday company, sunk to a 699 million euros ($844 million) loss in its first quarter, but said it had cut costs to limit the impact of another period hit by lockdowns and travel restrictions.

For the three months to the end of December, TUI said it cut its monthly cash outflow to 300 million euros, from an expected level of 400 to 450 million euros.

That meant its adjusted core earnings (EBIT) for the quarter came in at 699 million euros, compared to the loss of 146.7 million euros for the same period in 2019.

St. Modwen Properties FY Adj. EPRA Profit Declines – Quick Facts

St. Modwen Properties (SMP.L) reported a pretax loss of 120.8 million pounds for the year ended 30 November 2020 compared to profit of 49.5 million pounds, prior year. Loss per share was 54.7 pence compared to profit of 22.6 pence. Adjusted EPRA earnings declined to 22.1 million pounds from 38.7 million pounds. Adjusted EPRA EPS was 9.9 pence compared to 17.4 pence.

Fiscal year revenue declined to 342.1 million pounds from 429.9 million pounds, a year ago.

The Group will pay a final dividend of 3.9 pence per share, bringing the total dividend for the year to 5.0 pence. The final dividend will be paid on 8 April 2021 to shareholders on the register as at 12 March 2021.

Micro Focus Posts FY Loss

Micro Focus International plc (MCRO.L, MFGP) reported that its loss attributable to equity shareholders of the company for the year ended 31 October 2020 was $2.97 billion, compared to net income of $1.47 billion in the prior year.

Loss before tax widened to $2.94 billion from $34.1 million in the prior year.

Operating loss was $2.66 billion compared to an operating profit of $221.7 million in the previous year. The reduction was hurt by an impairment charge of $2.80 billion, which was recorded in the year. The impact of the impairment was partially offset by reduced spend on exceptional items as well as the multiple cost control program implemented in response to the year.

Annual revenue was $3.00 billion, represented a decrease of 10.4% from last year. The rate of decline includes a 0.4% decrease due to the strengthening of the dollar against most major currencies.

The company said that it is focused on delivering the objective of revenue stabilization as it exits fiscal year 2023 and continues to target incremental improvements in revenue trajectory annually in order to achieve this goal.