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Gross bookings rose 22% YoY to $58bn, beating the high end of guidance, and TTM FCF topped $10bn for the first time.
However, the mobility take rate fell by nearly 500bps YoY, and buybacks were paused after $4bn was deployed in Q2 to acquire Delivery Hero.The company also committed a multi-year $10bn investment in AV, with the number of live cities targeted to expand from 7 to 15 by year-end.0717 | Dolphin Focus: Daily News Recap | Dolphin Research 🐬 Macro/Industry 1: APAC equities weakened across the board by midday, marking the worst showing in months as heavy selling in AI and semis triggered outflows. Japan and Taiwan led declines, with TSM's results falling short of lofty expectations and dragging the broader chip supply chain lower.
A-shares fell for a third straight session, the STAR 50 is tracking for its worst week on record, and chip names corrected early after stretched valuations. Hong Kong stocks weakened in tandem...0526 | Dolphin Research Focus: 🐬 Macro/Industry. 1) The US and Iran reached a framework for an MoU; Iran would reopen the Strait of Hormuz within 30 days of signing, the US would unfreeze $12bn of Iranian assets, and both sides would implement a ceasefire.
This would significantly ease near-term Middle East tensions and stabilize the global energy supply chain (about 30% of crude flows through the strait). It supports a pullback in oil and a rebound in energy stocks.However, the arrangement is temporary and does not address core issues such as Iran's nuclear program. Longer-term execution remains uncertain.2) Hang Seng Indexes Company announced the results of its regular quarterly index rebalancing. ...