In today’s briefing:
- Carly Holdings Limited – Q2 Shows Vehicle Finance = Growth
- IPG Photonics: Major Drivers
Carly Holdings Limited – Q2 Shows Vehicle Finance = Growth
- Carly Holdings Limited (ASX:CL8) operates a vehicle subscription business, which it launched in March 2019, leveraging the existing DriveMyCar operations and technology.
- Car subscription allows business and retail customers to pay a single monthly fee to access a car for 30 days or more and is an alternative to purchasing or financing a vehicle.
- Carly has attracted larger automotive industry businesses as shareholders, with a model that facilitates sales volumes of new vehicles and delivers a new recurring revenue stream for automotive manufacturers and dealers.
IPG Photonics: Major Drivers
- IPG Photonics delivered a mixed result in the last quarter, as it failed to meet Wall Street expectations in terms of revenues but managed an earnings beat.
- Sales in high-power cutting applications suffered from a decline in general industrial demand in China and Europe.
- As this business required extra investment and was noncore to IPG, the management announced they would sell it to Lumentum.
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