24.07.2024 +++ Google's growth slows due to investments +++ Tesla posts second profit decline in a row +++ Purchasing Managers Index today +++ Business booming at Visa +++ SAP at record high +++ Spotify finally back in profit +++

The Google parent company Alphabet $GOOGL (-0.6%) increased its profit and turnover significantly in the second quarter. However, growth in advertising revenue slowed compared to the start of the year. The Group also announced weaker margins for the third quarter due to investments.

At the credit card group Visa $V (+1.22%) business continues to boom thanks to its customers' sustained propensity to consume and travel. In the third quarter of the 2023/24 financial year, turnover climbed by ten percent to 8.9 billion dollars (8.2 billion euros), the Dow Jones-listed company announced in San Francisco on Tuesday. Profit climbed by 17 percent to 4.9 billion dollars.

The electric car pioneer Tesla $TSLA (+9.97%) closed the second quarter in a row with a significant drop in profits. In the months from March to June, the company led by tech billionaire Elon Musk earned around 1.48 billion dollars - 45 percent less than a year earlier. Turnover rose by two percent to 25.5 billion dollars (23.5 billion euros), as the company announced on Tuesday after the US stock exchange closed. However, this was mainly due to the growing energy and electricity storage business, which doubled to three billion dollars. In the automotive business, sales fell by seven percent to around 19.9 billion dollars.

The music streaming group Spotify $SPOT (+0.87%) once again posted a profit in the second quarter. Thanks to a stronger gross margin and lower costs for marketing and personnel, the operating result rose significantly from 168 to 266 million euros compared to the previous quarter, as the company reported in Stockholm on Tuesday. In the same quarter of the previous year, the company had posted an operating loss of a similar amount. On the bottom line, Spotify made a profit of 274 million euros after a loss of 302 million euros a year earlier.

The company acquired by SAP $SAP (-0.4%) met all expectations, and the profit outlook for 2025 has even been raised slightly. According to analysts at JP Morgan, the 28% currency-adjusted increase in cloud order intake in the second quarter can be considered strong against the backdrop of declines and warnings in the software sector.

Wednesday: Stock market dates, economic data, quarterly figures

ex-dividend of individual stocks

Remy Cointreau EUR 2.00

Quarterly figures / company dates USA / Asia

12:30 AT&T | GE Vernova quarterly figures

22:05 IBM quarterly figures

22:10 Ford quarterly figures

Quarterly figures / Company dates Europe

06:45 Banco Santander | Equinor | SGS quarterly figures

07:00 Deutsche Bank | DWS | BNP Paribas SI Quarterly figures

07:00 Unicredit SpA Quarterly figures

07:30 Atoss Software | Orange | KPN | Forvia quarterly figures

08:00 Porsche AG | Reckitt Benckiser | Repsol quarterly figures

08:00 Easyjet quarterly figures | Deutsche Bank PK quarterly figures

10:00 Cherry quarterly figures + AGM | DWS analyst conference

10:00 Flatexdegiro Call on the quarterly figures

11:00 Deutsche Bank Analyst Conference

15:00 Hochtief result 1H

17:40 Michelin | Kering Results 1H

17:50 Carrefour result 1H

19:00 Deutsche Börse quarterly figures

Economic data

• 08:00 DE: GfK Consumer Climate Indicator July FORECAST: -20.8 points previously: -21.8 points
• 09:15 FR: Purchasing Managers' Index/PMI non-manufacturing (1st release) July PROGNOSE: 49.9 PREV: 49.6 Total Purchasing Managers' Index (1st release) PROGNOSE: 49.7 PREV: 48.8
• 09:15 FR: Purchasing Managers' Index/PMI manufacturing (1st release) July FORECAST: 45.8 PREVIOUS: 45.4
• 09:30 DE: Purchasing Managers' Index/PMI non-manufacturing (1st release) July PROGNOSE: 53.4 PREVIOUS: 53.1 Total Purchasing Managers' Index (1st release PROGNOSE: 50.7 PREVIOUS: 50.4
• 09:30 DE: Purchasing Managers' Index/PMI manufacturing (1st release) July FORECAST: 44.0 PREVIOUS: 43.5
• 10:00 EU: Purchasing Managers' Index/PMI non-manufacturing euro area (1st release) July FORECAST: 53.0 previously: 52.8
• 10:00 EU: Purchasing Managers' Index/PMI manufacturing euro area (1st release) July FORECAST: 46.2 previously: 45.8 Total Purchasing Managers' Index (1st release) FORECAST: 50.7 previously: 50.9
• 10:30 UK: Purchasing Managers' Index/PMI non-manufacturing (1st release) July FORECAST: 52.0 PREVIOUS: 52.1
• 10:30 UK: Purchasing Managers' Index/PMI Manufacturing (1st release) July FORECAST: 50.9 PREVIOUS: 50.9
• 15:45 US: Purchasing Managers' Index/PMI Services (1st release) July FORECAST: 55.0 PREVIOUS: 55.3
• 15:45 US: Purchasing Managers' Index/PMI Manufacturing (1st release) July FORECAST: 51.5 PREVIOUS: 51.6
• 16:00 US: New Home Sales June FORECAST: +3.4% yoy previous: -11.3% yoy