Thursday, 26 May 2022

‘Cyberattacks surge as COVID spurs digital push’

CompuGroup Medical Confirms FY21 Guidance; Issues Initial Guidance For 2022

CompuGroup Medical SE & Co. KGaA (CMPVF.PK) has reconfirmed its full year 2021 guidance. The group continues to expect a revenue increase to a range of 1 billion to 1.04 billion euros, and an adjusted EBITDA between 210 million and 230 million euros, corresponding to a margin in a range of 20 percent to 23 percent.

For 2022, CompuGroup Medical expects revenues of 1.075 billion to 1.125 billion euros, which corresponds to an organic growth of 3 percent to 8 percent. The company expects an adjusted EBITDA in the range of 235 million euros to 260 million euros, resulting in an EBITDA margin between 21 percent and 24 percent.

CompuGroup Medical noted that its all major customer systems remain unaffected following a cyber-attack on December 20, 2021. The company stated that there is no evidence for an illegal extraction or publication of data, or any proof of data having been downloaded by the attackers.

Society Pass Shares Down 9%, Downtick Continues

Shares of Society Pass Inc. (SOPA) is currently slipping nearly 9% on Tuesday morning, as it downtick continues.

SOPA is currently trading at $5.76, down $0.54 or 8.53%, on the Nasdaq.

The Vietnamese e-commerce company’s stock has surged over 150% in December after the company was added to the Russell 2000 index. However, the stock’s value has nearly halved since December 23. Society Pass had gone public in November in a deal that raised $26 million.

Society Pass engages in the acquisition and operation of e-commerce platforms for consumers and merchants in Southeast Asia. The company’s e-commerce interfaces include consumer facing segment comprising SoPa food & beverage App, SoPa.asia F&B Marketplace website, Leflair App, and Leflair Lifetyle Marketplace website.

Goldman Sachs Group Inc. Profit Falls In Q4, misses estimates

Goldman Sachs Group Inc. (GS) released a profit for fourth quarter that decreased from the same period last year and missed the Street estimates.

The company’s earnings came in at $3.81 billion, or $10.81 per share. This compares with $4.36 billion, or $12.08 per share, in last year’s fourth quarter.

Analysts on average had expected the company to earn $11.76 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 7.7% to $12.64 billion from $11.74 billion last year.

Goldman Sachs Group Inc. earnings at a glance:

-Earnings (Q4): $3.81 Bln. vs. $4.36 Bln. last year.
-EPS (Q4): $10.81 vs. $12.08 last year.
-Analyst Estimates: $11.76
-Revenue (Q4): $12.64 Bln vs. $11.74 Bln last year.

Truist Financial Corporation Q4 Profit Increases, beats estimates

Truist Financial Corporation (TFC) released a profit for its fourth quarter that increased from last year and beat the Street estimates.

The company’s bottom line totaled $1.52 billion, or $1.13 per share. This compares with $1.23 billion, or $0.90 per share, in last year’s fourth quarter.

Excluding items, Truist Financial Corporation reported adjusted earnings of $1.85 billion or $1.38 per share for the period.

Analysts on average had expected the company to earn $1.25 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 1.4% to $5.57 billion from $5.65 billion last year.

Truist Financial Corporation earnings at a glance:

-Earnings (Q4): $1.52 Bln. vs. $1.23 Bln. last year.
-EPS (Q4): $1.13 vs. $0.90 last year.
-Analyst Estimate: $1.25
-Revenue (Q4): $5.57 Bln vs. $5.65 Bln last year.

Goldman Sachs Slips 8% As Quarterly Earnings Drop Below Estimates

Shares of banking major Goldman Sachs Group, Inc. (GS) are falling 8 percent on Tuesday’s trading after the company posted lower profit in the fourth quarter, which also came in below the Street expectations. The earnings were affected by higher operating expenses and higher provisions for bad loans.

For the quarter, net earnings applicable to common shareholders declined to $3.81 billion or $10.81 per share from $4.36 billion or $12.08 per share in the prior-year quarter, while 21 analysts polled by Thomson Reuters expected the company to report earnings of $11.76 per share for the quarter.

Operating expenses were $7.27 billion for the fourth quarter, 23 percent higher than last year, due to higher compensation and benefits expenses, professional fees and net provisions for litigation and regulatory proceedings.

Net revenues for the quarter grew 8 percent to $12.64 billion from $11.74 billion in the same quarter last year while analysts expected $12.08 billion in revenues.

Currently at $348.90, the stock has traded between $270.62 and $426.16 during the past 52 weeks.

‘Cyberattacks surge as COVID spurs digital push’

Ransomware incidents rose 151%: WEF

The accelerating pace of digitalisation, fuelled by the COVID-19 pandemic, has led to a record-breaking year for cybercrime with ransomware attacks rising 151% in 2021, and an average of 270 cyberattacks per organisation being faced, a new study showed on Tuesday.

The World Economic Forum’s ‘Global Cybersecurity Outlook 2022’, released during its online Davos Agenda summit, further showed that each successful cyber breach cost a company $3.6 million (almost ₹27 crore) last year, while the average share price of the hacked company underperformed the NASDAQ index by close to 3% even six months after the event in case of the breach becoming public.

The WEF said the global digital economy had surged on the back of the COVID-19 pandemic, but so had cybercrime.

There is also a perception gap between business executives who think their firms are secure and security leaders who disagree. Some 92% of executives surveyed agreed cyberresilience was integrated into risk-management strategies, but only 55% of cyber leaders agreed.

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