Anheuser-Busch InBev press release ( BUD ): Q4 Non-GAAP EPS of $0.95 beats by $0.07 . Revenue of $15.55B (+4.8% Y/Y) beats by $90M . Revenue increased by 2.5% in 4Q25 with revenue per hl growth of 4.0% and by 2.0% in FY25 with revenue per hl growth of 4.4%. Volumes declined by 1.5% in 4Q25, with beer volumes down by 1.9% and non-beer volumes up by 0.6%. Normalized EBITDA increased by 2.3% to 5 473...
Anheuser-Busch InBev press release ( BUD ): Q4 Non-GAAP EPS of $0.95 beats by $0.07 . Revenue of $15.55B (+4.8% Y/Y) beats by $90M . Revenue increased by 2.5% in 4Q25 with revenue per hl growth of 4.0% and by 2.0% in FY25 with revenue per hl growth of 4.4%. Volumes declined by 1.5% in 4Q25, with beer volumes down by 1.9% and non-beer volumes up by 0.6%. Normalized EBITDA increased by 2.3% to 5 473 million USD in 4Q25, with a margin contraction of 10bps to 35.2%. Net debt to normalized EBITDA ratio was 2.87x at 31 December 2025, compared to 2.89x at 31 December 2024. The AB InBev Board of Directors proposes a final dividend of 1.00 EUR per share, subject to shareholder approval at the AGM on 29 April 2026. 2026 Outlook (i) Overall Performance: We expect our EBITDA to grow in line with our medium-term outlook of between 4-8%. The outlook for FY26 reflects our current assessment of inflation and other macroeconomic conditions. (ii) Net Finance Costs: Net pension interest expenses and accretion expenses are expected to be in the range of 190 to 220 million USD per quarter, depending on currency and interest rate fluctuations. We expect the average gross debt coupon in FY26 to be approximately 4%. (iii) Effective Tax Rate ( ETR ): We expect the normalized ETR in FY26 to be in the range of 26% to 28%. The ETR outlook does not consider the impact of potential future changes in legislation. (iv) Net Capital Expenditure: We expect net capital expenditure of between 3.5 and 4.0 billion USD in FY26. More on Anheuser-Busch InBev Anheuser-Busch InBev: Strong Cash Flow And Growing Profitability Anheuser-Busch InBev: Waking Up After A Long-Term Hangover Wall Street Lunch: Craft Beers Enter 2026 On Choppy Waters Anheuser-Busch InBev Q4 2025 Earnings Preview Super Bowl LX ads: OpenAI vs. Anthropic, Meta’s glasses, and GLP‑1 buzz
AST SpaceMobile confirms the successful unfolding of BlueBird 6 to validate its technology and unlock commercial agreements with global network operators.
AST SpaceMobile confirms the successful unfolding of BlueBird 6 to validate its technology and unlock commercial agreements with global network operators.
Good morning . The US House voted to end Donald Trump’s tariffs on Canada as six Republicans crossed the aisle. Read about an alleged multi-million euro insider trade. And Jim Ratcliffe says the UK is “colonized” by immigrants. Listen to the day’s top stories . US President Donald Trump’s tariff agenda faced its biggest setback as the Republican-led House passed a bill targeting levies on Canadian...
Good morning . The US House voted to end Donald Trump’s tariffs on Canada as six Republicans crossed the aisle. Read about an alleged multi-million euro insider trade. And Jim Ratcliffe says the UK is “colonized” by immigrants. Listen to the day’s top stories . US President Donald Trump’s tariff agenda faced its biggest setback as the Republican-led House passed a bill targeting levies on Canadian imports. Though unlikely to survive a veto, the vote exposed GOP divisions and rising election-year anxiety over affordability and Trump’s weakening political grip. French President Emmanuel Macron renewed his “ Made in Europe ” push before a key EU meeting, urging priority for local content in strategic sectors. German Chancellor Friedrich Merz pushed back, warning against excessive protectionism and underscoring divisions over how to strengthen Europe’s competitiveness. UK Chancellor Rachel Reeves urged inclusion of partners like the UK, Norway and Canada. Europe must accelerate reforms and scale up efforts to strengthen its economy, European Central Bank Executive Board member Isabel Schnabel said. Trump told Israeli Prime Minister Benjamin Netanyahu he will pursue Iran talks and prefers a deal , despite the country’s concerns about Washington’s diplomatic push. Crude oil edged higher as traders remain concerned about a potential escalation in tensions between the US and Iran. Middle East tensions aren’t rattling markets yet—but if oil flows get hit, inflation and central banks will feel it fast . Russia has moved to fully block WhatsApp its popular encrypted messaging service in the country as part of an effort to drive adoption of a new, state-sponsored app. Authorities are also moving to restrict Telegram as Moscow tightens control over foreign messaging platforms. London house prices are expected to rise for the first time in over a year, a RICS survey showed, signaling tentative improvement . While UK buyer enquiries picked up, overall activity remains subdued afte...
Huawei’s Ascend 384 supernode is displayed at the 2025 World Artificial Intelligence Conference in Shanghai on July 28, 2025. Photo: VCG Facing U.S. sanctions blocking access to advanced semiconductors, Chinese tech companies are increasingly relying on supernode technology that can integrate clusters of lower-performance chips into servers to achieve similar computing capacities. But systematic c...
Huawei’s Ascend 384 supernode is displayed at the 2025 World Artificial Intelligence Conference in Shanghai on July 28, 2025. Photo: VCG Facing U.S. sanctions blocking access to advanced semiconductors, Chinese tech companies are increasingly relying on supernode technology that can integrate clusters of lower-performance chips into servers to achieve similar computing capacities. But systematic complexity, high costs and insufficient demand cloud their large-scale application. Since mid-2025, many Chinese artificial intelligence (AI) chip designers, server manufacturers and cloud services providers have rolled out their own supernode products amid a surge in demand for training large language models (LLMs) that have been applied in a wide range of industries from education and health care to finance and marketing.
Astera Labs opened a new R&D and design center in Israel, focused on addressing memory and data bottlenecks in AI workloads. The company announced new partnerships with Microsoft, Intel, SAP, and Amazon to advance AI connectivity and CXL attached memory solutions. Astera Labs disclosed a multibillion dollar purchase agreement with Amazon tied to its AI and cloud infrastructure products. Astera Lab...
Astera Labs opened a new R&D and design center in Israel, focused on addressing memory and data bottlenecks in AI workloads. The company announced new partnerships with Microsoft, Intel, SAP, and Amazon to advance AI connectivity and CXL attached memory solutions. Astera Labs disclosed a multibillion dollar purchase agreement with Amazon tied to its AI and cloud infrastructure products. Astera Labs, listed as NasdaqGS:ALAB, is leaning into AI infrastructure at a time when attention on high...
A Toyota Motor ( TM ) group company said Thursday that it will extend the tender offer period for its acquisition of forklift maker Toyota Industries ( TYIDY ) ( TYIDF ) until March 2 to improve the likelihood of the bid’s success. The new deadline is March 2, and the offer price remains unchanged, Toyota Asset Preparatory, which is the entity through which the bid is being made, said in a filing....
A Toyota Motor ( TM ) group company said Thursday that it will extend the tender offer period for its acquisition of forklift maker Toyota Industries ( TYIDY ) ( TYIDF ) until March 2 to improve the likelihood of the bid’s success. The new deadline is March 2, and the offer price remains unchanged, Toyota Asset Preparatory, which is the entity through which the bid is being made, said in a filing. The offer period was previously slated to end Thursday. Toyota Industries shares rose after the disclosure, briefly rising as high as 20,000 yen, up from around 19,400 yen before. The stock was last up 1.2% at 19,910 yen. The deal faces strong opposition from U.S. activist Elliott Investment Management. More on Toyota Motor Toyota's Abrupt CEO Switch Signals Big Spending To Keep Up With AI And Chinese Rivals Toyota Motor: Confirmation Of A Long-Term Defensive Investment After Q3 Results Toyota Motor Corporation (TM) Discusses Executive Leadership Transition and Organizational Restructuring Transcript Toyota plans to retool its Kentucky plant to produce its first EV model in the U.S. Toyota appoints Kenta Kon as CEO; outgoing Chief Sato named Vice Chairman & CIO
Siemens press release ( SIEGY ): Q1 Non-GAAP EPS of €2.80. Revenue of €19.14B (+4.3% Y/Y). First quarter orders were up 10% on a comparable basis, excluding currency translation and portfolio effects, with double-digit increases in most industrial businesses; comparable revenue rose 8%, including growth in all industrial businesses. On a nominal basis, orders rose 7% to €21.4 billion; the book-to-...
Siemens press release ( SIEGY ): Q1 Non-GAAP EPS of €2.80. Revenue of €19.14B (+4.3% Y/Y). First quarter orders were up 10% on a comparable basis, excluding currency translation and portfolio effects, with double-digit increases in most industrial businesses; comparable revenue rose 8%, including growth in all industrial businesses. On a nominal basis, orders rose 7% to €21.4 billion; the book-to-bill ratio was 1.12. Profit Industrial Business increased to €2.9 billion, with a profit margin of 15.6%, driven by considerable improvements at Digital Industries and Smart Infrastructure. Free cash flow from continuing and discontinued operations was €0.7 billion. Outlook: "After a strong start to the fiscal year, we raise our outlook for basic EPS from net income before purchase price allocation accounting (EPS pre PPA) from a range of €10.40 to €11.00 to a range of €10.70 to €11.10 for fiscal 2026. Furthermore, we confirm the remaining expectations for fiscal 2026 given in our Earnings Release Q4 FY 2025, which were as follows: For fiscal 2026, we assume that the global economic environment will stabilize and that global GDP growth will remain near the prior-year level. We also anticipate that in fiscal 2026 negative currency effects will strongly burden nominal growth rates in volume as well as profit for our industrial businesses and earnings per share ( EPS )." For fiscal 2026, Digital Industries expects comparable revenue growth − net of currency translation and portfolio effects − of 5% to 10% and a profit margin of 15% to 19%. Smart Infrastructure expects for fiscal 2026 comparable revenue growth of 6% to 9% and a profit margin of 18% to 19%. Mobility expects for fiscal 2026 comparable revenue growth of 8% to 10% and a profit margin of 8% to 10%. For the Siemens Group, we expect comparable revenue growth in the range of 6% to 8% and a book-to-bill ratio above 1 for fiscal 2026. More on Siemens Siemens: A Case To Be Made For The Macro-Related Downside Siemens overt...