The S&P/ASX 200 Index (ASX: XJO) is out of form and tumbling notably lower. In afternoon trade, the benchmark index is down 0.7% to 7,378.9 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why these ASX shares are charging higher:

HT&E Ltd (ASX: HT1)

The HT&E share price has surged 32% higher to $1.94. This morning the advertising and media company announced that it has reached a binding heads of agreement to settle the taxation dispute with the ATO for the sum of $71 million.

JB Hi-Fi Limited (ASX: JBH)

The JB Hi-Fi share price is up over 4% to $50.48. Investors have been buying this retail giant’s shares after it was upgraded by a leading broker. According to a note out of Macquarie Group Ltd (ASX: MQG), its analysts have upgraded JB Hi-Fi’s shares to an outperform rating with a $52.50 price target. The broker notes that consumer electronic purchases have rebounded strongly across its Macquarie Credit Card dataset.

Reece Ltd (ASX: REH)

The Reece share price is up 6% to $19.93. Investors have been buying the plumbing parts company’s shares following the release of its first quarter update. That update revealed sales growth of 13.2% for the three months ended 30 September. In light of this, management is guiding to first half EBITDA growth of 8% to 11%.

ResMed (ASX: RMD)

The ResMed share price is up 5% to $37.36. This follows the release of a first quarter result ahead of the market’s expectations. The sleep treatment focused medical device company reported a 20% increase in revenue to US$904 million and GAAP earnings per share of US$1.39. This compares to consensus estimates of US$860 million and US$1.24 per share, respectively.

The post Why HT&E, JB Hi-Fi, Reece, and ResMed shares are charging higher appeared first on The Motley Fool Australia.

More reading

• Here’s why HT&E (ASX:HT1) share price is rocketing 31% today
• ASX 200 (ASX:XJO) midday update: Macquarie doubles profit, ResMed jumps
• JB Hi-Fi (ASX:JBH) share price jumps on broker upgrade
• ResMed (ASX:RMD) share price jumps 7% on Q1 earnings beat
• 5 things to watch on the ASX 200 on Friday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has recommended ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Blue Star Helium Ltd (ASX: BNL) share price is plummeting today after coming out of a trading halt. This comes after the energy company announced it has successfully completed an equity raise.

During early afternoon trade, Blue Star Helium shares are swapping hands for 6.1 cents, down 7.58%.

Placement complete

Investors are heading for the hills, dumping Blue Star Helium shares as impending share dilution appears on the horizon.

According to its release, Blue Star Helium advised it has received firm commitments to raise $15 million from institutional and sophisticated investors. The strong support saw a number of new domestic and international customers be added to the company’s registry.

The well-supported placement will see Blue Star Helium create 267.86 million new ordinary shares at an issue price of 5.6 cents apiece. This represents an 11.7% discount to the 10-day volume weighted average price (VWAP) of 6.34 cents up to 27 October. In addition, this is a 15.2% reduction on Wednesday’s closing price of 6.6 cents (before going into a trading halt).

Under listing rule 7.1, Blue Star Helium will allocate 141.8 million shares to investors. Furthermore, the company will also use an extension – listing rule 7.1A to issue the remaining 126.1 million shares.

The proceeds will be used for helium exploration and development evaluation activities across its Las Animas County acreage in Colorado. This includes a number of strategic objectives such as expanding the helium exploration well and water well drilling activities, further key acreage leasing initiatives and production development studies.

What did management say?

Blue Star Helium managing director and CEO Trent Spry commented:

Following the grant of our Form 2A OGDP approval for the Enterprise 16#1 well, we are excited to be in the final phase of approval to commence drilling of our maiden helium exploration well. We expect to commence drilling of this well promptly upon receipt of the approved final permit to drill (Form 2), which is typically received within 30 days of submission which will happen shortly.

Drilling of the next water well (BBB#1) is also expected to commence in November. This well is located close to Blue Star’s Voyager prospect, which is positioned approximately six miles north from the Model Dome field. Our water well drilling program not only offers significant community relationship benefits but is also a source of valuable additional data with respect to helium prospectively across our acreage.

About the Blue Star Helium share price

Despite today’s fall, the Blue Star Helium share price has shot up by more than 70% in the past 12 months. When looking at year-to-date, the company’s shares are sitting on a gain of close to 40%.

Blue Star Helium has a market capitalisation of roughly $76.9 million with a tad over 1.26 billion shares on hand.

The post Here’s why the Blue Star Helium (ASX:BNL) share price is sinking 8% on Friday appeared first on The Motley Fool Australia.

More reading

• Will inflation pressure your ASX shares in 2022? Here are Bell Asset’s strategy tips
• Here’s why HT&E (ASX:HT1) share price is rocketing 31% today
• Why is the Airtasker (ASX:ART) share price falling on Friday?
• Here’s why the Rhythm Biosciences share price (ASX:RHY) is jumping higher today
• What’s sending the Seven West Media (ASX:SWM) share price up 6% on Friday?

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned.

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ASX shares have broadly had a great run over the past 12 months. The All Ordinaries Index (ASX: XAO), for example, is up a whopping 25% since this time last year.

ASX tech shares have managed to hold their own as well. The S&P/ASX All Technology Index (ASX: XTX) is up 23% over the past 12 months.

Many listed companies have benefited from ultra-low interest rates. Not only does this bring down their borrowing costs, but it also makes ASX shares more attractive relative to low-yielding bonds or cash deposit accounts. Meaning more investors tend to put money into the share market.

But with sticky higher inflation now flashing red on investors’ radars, what’s the outlook for the year ahead?

Not so “transitory” inflation

According to Ned Bell, the chief investment officer at Bell Asset Management, investors’ interest rate expectations should broadly direct markets in the year ahead.

Presenting at yesterday’s ‘Bell Asset Management — Global equities market update and outlook for 2022’ webinar, Bell pointed to US Federal Reserve chairman, Jerome Powell’s change of words on the durability of recent price spikes.

“Powell was using the word transitory with great effect a couple of months ago. But essentially it’s disappeared from the vocabulary,” Bell said.

And wage inflation could be among the more durable price increases impacting global companies and ASX shares.

According to Bell:

You’ve got much higher oil prices and commodity inflation, that’s obviously causing some issues. And it remains to be seen how long this will be an issue. But on the other side of the coin, you’ve got wage inflation. The wage inflation is becoming more of an issue, and we feel like that is going to be with us for some time.

One of the most common things we keep hearing from companies is that staff availability is a real problem. One of the side effects of COVID is that a lot of people simply don’t want to go back to work. They’re rethinking their lives and willingness to work. That’s causing some real labour constraints, across multiple jobs and multiple industries.

Strategies for ASX shares and global markets

With higher energy costs and potentially increased wage costs, some ASX shares are likely to do better than others.

“Clearly things like energy” have outperformed this year, Bell said. “Some of the actual causes of the inflation are good places to be.”

What else should investors consider in an inflationary environment?

According to Bell:

From a style perspective, quality companies that have pricing power. They can pass on those commodity price increases. Those are the ones that are going to benefit over and above the ones that can’t…

Services businesses, like a software company or a consulting business, they don’t have any input price pressure. Those types of businesses, and the less capital intensive businesses, tend to do better during inflationary periods.

Generally, lower margin businesses are the ones that are really going to struggle. You’re seeing some of the consumer staples companies starting to feel the effects of that. Things like packaging but also food prices are ticking higher.

Higher inflation equates to higher interest rates

As noted above, many ASX shares have benefited from ultra-low interest rates. But the days of record-low rates may be ending sooner than expected. And that could throw up some unwanted headwinds for certain ASX shares.

Bell explained:

That tends to be trouble for the most expensive stocks in the market. As night follows day, when interest rates go up, high P/E [price to earnings ratio] stocks go down. We’re seeing that now … That will arguably trigger a bit more of a rotation out of the most crowded growth names into the rest of the market.

Now it’s not as binary as sell the highest growth stocks and buy the cheapest, junkiest. It’s about having more diversification.

So, investors worried about inflation may want to run the slide rule over their ASX shares and make sure they don’t hold too many in any single basket.

The post Will inflation pressure your ASX shares in 2022? Here are Bell Asset’s strategy tips appeared first on The Motley Fool Australia.

More reading

• The biggest risk to global growth and ASX 200 returns in 2022
• ASX 200 (ASX:XJO) midday update: Macquarie doubles profit, ResMed jumps
• JB Hi-Fi (ASX:JBH) share price jumps on broker upgrade
• 5 things to watch on the ASX 200 on Friday
• The Nearmap (ASX:NEA) share price is up 20% in 3 weeks. What’s happening?

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Shares in media and entertainment company HT&E Ltd (ASX: HT1) are going gangbusters today. At the time of writing, the HT&E share price is trading 30.61% higher at $1.92, having earlier reached a high of $1.99.

This comes after the company announced a final resolution to a tax dispute it was embroiled in.

Here’s what we know.

What was announced?

HT&E – which stands for Here, There & Everywhere – advised it has reached a binding heads of agreement with the Australian Taxation Office (ATO) to settle a taxation dispute. The news appears to be having a positive impact on the HT&E share price, which has been well in the green all day so far.

The dispute refers to a New Zealand branch of the company from the financial years ended December 2009 to December 2016. It has been running since 2018 when the ATO first commenced proceedings.

Specifically, the matter involved $102.5 million of tax adjustments, $49 million of penalties, and interest payable of $43 million, amounting to a total of $195 million.

Even though the company felt its treatment of the branch matters was in keeping with tax legislation, it felt the settlement of $71 million was “in the best interests of shareholders”.

HT&E arrived at the $71 million figure after lengthy consultations with its tax advisors and considers it a fair outcome for the company, per the release.

The release also notes HT&E intends to pay the remaining balance of its settlement using its existing cash reserves.

Importantly, the company advised that its balance sheet remains in a strong position after the settlement.

Furthermore, the resolution of the “historic tax dispute removes the potential liability for a substantial amount of tax, interest, and penalties”.

It allows HT&E and its shareholders to look forward with certainty, per the release.

HT&E share price snapshot

HT&E share price has had a difficult year to date, so today’s gains are a welcome boost for shareholders. Since January 1, it has posted a return of just 4.8%. However is still up 28% in the last 12 months.

That’s a slight step ahead of the benchmark S&P/ASX 200 index (ASX: XJO)’s gain of around 25% over the past year.

The post Here’s why HT&E (ASX:HT1) share price is rocketing 31% today appeared first on The Motley Fool Australia.

More reading

• Why is the Airtasker (ASX:ART) share price falling on Friday?
• Here’s why the Rhythm Biosciences share price (ASX:RHY) is jumping higher today
• What’s sending the Seven West Media (ASX:SWM) share price up 6% on Friday?
• Morgans tips Zip (ASX:Z1P) share price to jump 30%
• Why did the Minbos Resources (ASX:MNB) share price leap 18% today?

The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Airtasker Ltd (ASX: ART) share price is currently down by more than 2% as the ASX tech share delivered its quarterly update for the three months to September 2021.

Airtasker is a business that aims to match up people who want to work with people who need work doing.

First quarter of FY22

The marketplace company explained that it demonstrated “solid” performance in the first three months. Its gross marketplace volume (GMV) went up 6.2% to $35 million. That was achieved despite the lengthy lockdowns in both Melbourne and Sydney which were for (substantially) all of the quarter. Other markets also experienced lockdowns in different parts of the quarter.

International growth

The international part of the Airtasker business remains a small part of the overall picture, but it continues to grow rapidly.

International GMV saw a rise of over 100% thanks to growth in the UK. It is making progress in the US as well, with launches in Dallas, Kansas City and Miami after the Zaarly acquisition.

However, the company said that whilst Australia is benefiting from seasonal growth, the northern hemisphere marketplaces in the US and UK are now entering winter, which represents a seasonally slower period.

Cashflow

The company said that this result showed the underlying growth and resilience of the marketplace. Receipts from customers were up 2.3% to $6.5 million in the first quarter.

The overall operating cash outflow was $4 million.  This outflow was higher compared to the fourth quarter of FY21 due to an increase of international marketing investment in line with expectations, annual bonuses triggered by FY21 revenue outperformance compared to the target, one-off payroll tax payments relating to historical equity awards which crystallised after the initial public offering (IPO), and timing differences.

Airtasker said that it has spent $5.8 million of the $16.1 million of funds that were raised. Offer costs amounted to $2.7 million, with $1.6 million spent on marketing and $1.5 million on product development.

Chief product officer appointment

Airtasker said that it continues to strengthen its leadership bench with the appointment of former Zip Co Ltd (ASX: Z1P) chief technology officer Patrick Collins. Mr Collins has been appointed as the new chief product officer.

The Airtasker CEO Tim Fung commented:

Patrick brings to Airtasker more than two decades of product leadership experience developed in leading Silicon Valley and Australian technology companies including Fifth Finger and Zip Co. We’re very excited to bring him on board as we scale internationally and continue to invest in a world class customer experience.

Lockdowns ending

Post-lockdown activity could have an impact on the Airtasker share price.

Both Sydney and Melbourne are exiting their months-long lockdowns. Airtasker said that it has experienced a sharp bounce back. This is seen in its latest weekly GMV of $3.6 million. If you turn that into an annualised number, it’s $185 million on an annualised run rate basis.

Airtasker says that it’s heading into its strongest southern hemisphere seasonal growth period.

The post Why is the Airtasker (ASX:ART) share price falling on Friday? appeared first on The Motley Fool Australia.

More reading

• Here’s why the Airtasker (ASX:ART) share price could be a buy
• Why is the Airtasker (ASX:ART) share price climbing on Wednesday?
• Top ASX shares to buy in October 2021
• 2 ASX growth shares that could be buys in October 2021

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended ZIPCOLTD FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Airtasker Limited. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Shares in medical diagnostics company Rhythm Biosciences Ltd (ASX: RHY) are edging higher in afternoon trade today.

At the time of writing, Rhythm Biosciences shares are changing hands at $1.59 apiece, which is an almost 3% gain from yesterday’s close.

What’s up with Rhythm Biosciences share price today?

Rhythm Biosciences is on the move as the company released its quarterly activities and earnings report for the period ending 30 September 2021.

In its report, Rhythm outlined several investment highlights concerning ColoSTAT – the company’s “simple, low-cost blood test for the early detection of colorectal cancer, aimed at global mass market screening”.

For instance, it formed a ‘100% owned’ entity in the US, known as IchorDX, Inc., which “provides optionality and a visible pathway for ColoSTAT in one of the world’s largest diagnostic markets”.

It also remains on track for its CE Mark application and approval out of Europe to be completed by the end of this year, per the release.

Meanwhile, in Australia, the company also “successfully submitted the first two key steps for Therapeutic Goods Administration (TGA) approval”.

Already, the TGA has accepted Rhythm’s manufacturers evidence documentation, according to the release.

The next step for Rhythm in this process is to list on the Australian Register of Therapeutic Goods (ARTG), but not before compiling the necessary onboarding documentation and evidence. Rhythm expects this to be completed by 2H FY22, as per the announcement.

Aside from this, the company also successfully recruited the first 815 people into its upcoming ColoSTAT clinical trial – Study 7.

It also left the quarter with $5.28 million in cash on its balance sheet, with another $2.4 million coming from an R&D refund.

What’s next for Rhythm Biosciences?

Rhythm is adamant that it is “well funded to execute its development and commercial plans outlined in (its) FY22 strategic plan”.

It also expects a reduction in variable costs over the remainder of FY22, and as mentioned, expects to receive CE Mark submission later in CY21.

The company also is set to “progress and finalise regulatory requirements for TGA submission and confirm commercialisation pathways for ColoSTAT in various jurisdictions”.

Rhythm Biosciences share price has soared over 677% in the last 12 months, after gaining a further 82% since January 1.

The post Here’s why the Rhythm Biosciences share price (ASX:RHY) is jumping higher today appeared first on The Motley Fool Australia.

More reading

• Why is the Rhythm Biosciences (ASX:RHY) share price up 11% on Monday?
• Why is the Rhythm (ASX:RHY) share price climbing 10% today?

The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Seven West Media Ltd (ASX: SWM) share price is set to finish the week in positive territory following the company’s latest announcement.

During the early afternoon trade, the media company’s shares are up 6.02% to 44 cents. This means that in the past month, the Seven West Media share price has risen by almost 13%.

What did Seven West Media tell the ASX today?

Judging by today’s gains, investors are pleased with the company’s efforts to improve its balance sheet position.

According to its release, Seven West Media advised it has refinanced its debt facilities into one new facility. This will deliver lower funding costs as well as more flexible terms for the company. The loan’s maturity date has also been extended until October 2024.

The new facility funding costs have been cut in half due to a negotiated rate of 2.25% above BBSY. The terms BBSY is the bank bill swap bid rate, which is the interest rate used for debt financing.

Seven West Media stated that the consolidated facility marks an important milestone in managing its debt profile. This includes reducing the company’s net debt by 57% ($158 million) to $240 million during FY21. The net debt leverage ratio stood at 0.95x.

During August, Seven West Media reported an underlying net profit after tax (NPAT) of $125.5 million.

Originally, the old facility was tied to COVID-era restrictions such as constraints on capital management. However, this has now been erased, giving Seven West Media greater flexibility to pursue growth opportunities.

Seven West Media share price snapshot

The Seven West Media share price has surged by 22% in 2021. If we zoom out a bit, the share price has done even better, accelerating by 160% since this time last year.

Seven West Media has a market capitalisation of $655 million and approximately 1.58 billion shares on its registry.

The post What’s sending the Seven West Media (ASX:SWM) share price up 6% on Friday? appeared first on The Motley Fool Australia.

More reading

• Morgans tips Zip (ASX:Z1P) share price to jump 30%
• Why did the Minbos Resources (ASX:MNB) share price leap 18% today?
• Apple (NASDAQ:AAPL) reports quarterly results, how far from the tree did they fall?
• PointsBet (ASX:PBH) share price extends losses on Friday, down 25% this week
• The biggest risk to global growth and ASX 200 returns in 2022

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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It has been another largely disappointing month for the Zip Co Ltd (ASX: Z1P) share price.

Since the start of October, the buy now pay later (BNPL) provider’s shares have fallen 7.5% to $6.53.

This means the Zip share price is now down 55% from its February high of $14.53.

Can the Zip share price rebound?

Thankfully for shareholders, one leading broker believes the Zip share price can rebound strongly from here.

According to a recent note out of Morgans, its analysts have retained their add rating but trimmed their price target on the company’s shares slightly to $8.56.

Based on the current Zip share price, this implies potential upside of 31% for its shares over the next 12 months.

What did the broker say?

Morgans felt that Zip delivered a reasonably solid first quarter update last week. Though, it does acknowledge that the company’s growth will need to accelerate in order to reach consensus estimates.

The broker said: “We saw 1Q22 group sequential revenue growth of 8% as a reasonable outcome (in Z1P’s seasonally weakest quarter) and highlighting continued momentum. However, with the FY22 consensus revenue forecast ($689m) implying +71% growth on pcp, Zip’s sales growth trajectory needs to improve meaningfully over Q2-Q4 to hit this level.”

“Our other key quarterly takeaways were; 1) while Z1P’s ANZ net bad debt ratio of 2.43% was largely in-line with pcp, it has risen from 1.87% at 4Q21; 2) revenue margins in the US were called out as still being around 7%; and 3) transaction value per average customer continues to decline in Australia (A$90), being roughly half of the pcp level, reflecting the impacts of Tap and Zip functionality,” it added.

Outside this, the broker reiterated that sees significant potential if Zip delivers on its bold plans and notes that the Zip share price trades at a huge discount to rival Afterpay Ltd (ASX: APT).

Morgans concluded: “We continue to see longer term upside if Z1P can execute on its ambitions of becoming a global payments player. Noting the stock continues to trade at a significant discount to peer APT (~6x sales versus ~25x), we maintain our ADD recommendation.”

The post Morgans tips Zip (ASX:Z1P) share price to jump 30% appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended AFTERPAY T FPO and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Minbos Resources Ltd (ASX: MNB) share price is on the rise today.

At the time of writing, shares in the Australian-based phosphate specialist are swapping hands for 18 cents apiece, up 5.88%. In early trade, they were as high as 20 cents, which represents a 17.6% gain on the previous closing price.

This comes after the company announced a key update regarding the production of nitrogen fertiliser and green ammonia in Angola.

Here are the details out of the Minbos camp today.

What was announced?

In news possibly fuelling the Minbos Resources share price, the company has received support from the Angolan Ministry of Agriculture to produce green ammonia and nitrogen fertiliser in the country.

This came after Minbos submitted a letter of intent (LOI) to several departments in the Angolan cabinet seeking approval.

The LOI contained a proposal to “develop a nitrogen fertiliser facility using green ammonia produced from hydroelectric power from the Capanda Hydroelectric Dam”.

For reference, the Capanda Hydroelectric Dam is located on the Kwanza River, Angola. It generates a total installed capacity of 520 megawatts from four turbines.

Minbos intends to produce nitrogen fertiliser from green ammonia by adding nitrogen to phosphate from its Cabinda Phosphate project. It will sell the fertiliser locally to what the company claims is one of the world’s most prospective agricultural regions.

Pleasingly, the Ministry has agreed to provide the necessary support to Minbos to ensure the implementation of the project.

The proposed location of the facility is strategically located “within trucking distance to the Malange agricultural corridor and major regional mining projects”.

This should reduce transport and distribution costs, ensuring a competitive cost advantage, the company says.

From its discussions with the Ministry of Energy in Angola, Minbos confirms 100 megawatts of hydropower is available for the project. It can also make a submission for a “staged tariff structure to offset high fixed costs during the market development phase”.

Speaking on the announcement likely driving the Minbos Resources share price, CEO Lindsay Reed said:

Green ammonia is a natural progression for Minbos and its NPK for Angola strategy and a great opportunity for Angola to establish a competitive sustainable fertiliser industry to underpin the development of its agricultural sector. We are excited about advancing this project with the support of the Angolan Government.

Minbos Resources share price snapshot

The Minbos Resources share price has been an absolute star on the ASX these past 12 months. It has climbed around 350% during that time, and 370% this year to date.

That’s a galaxy away from the S&P/ASX 200 index (ASX: XJO)’s gain of around 25% in the last 12 months and 10% year to date.

The post Why did the Minbos Resources (ASX:MNB) share price leap 18% today? appeared first on The Motley Fool Australia.

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The author Zach Bristow has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Apple Inc (NASDAQ: AAPL) stock price had a very decent day of trading over on the US markets last night (our time). Apple ended up closing the normal trading day at US$152.57 a share, up a healthy 2.5% for the day. That puts Apple’s stock price within a few dollars of its all-time high of US$157.26 a share. But Apple’s after-hours trading this morning told a rather different tale. Apple ended up closing at a far lower US$147.19 in after-hours trading, down a nasty 3.53%.

That might have something to do with the quarterly earnings report Apple released after market close.

So how did Apple do?

Well, the company posted revenues for the 3 months ending 25 September (Apple runs on a strange calendar) of US$83.4 billion, up 29% from the US$64.7 billion from the same quarter last year.

Operating income came in at US$20.55 billion, also up substantially from the US$12.67 billion posted in last year’s quarter. That translates into US$1.25 in basic earnings per share (EPS), up from 74 cents in EPS last year.

Apple reports growth across the board

In terms of revenues, iPhone once again proved its dominance in Apple’s product stable. US$38.87 billion in revenue came from iPhone sales over the quarter, up 47% from the US$26.44 billion from 2020’s September quarter.

Services revenue rose 25.6% from US$14.55 billion last year to US$18.28 billion in this quarter. iPad revenue was up 21.3% to US$8.25 billion, while Wearables, Home and Accessories rose 11.55% to US$8.79 billion. Mac sales were comparatively flat, rising 1.6% to US$9.18 billion.

Turning to dividends, and Apple declared a cash dividend of 22 cents per share, to be paid on 11 November, the same payout investors enjoyed over the previous quarter.

Apple CFO Luca Maestri had this to say on these results:

Our record September quarter results capped off a remarkable fiscal year of strong double-digit growth, during which we set new revenue records in all of our geographic segments and product categories in spite of continued uncertainty in the macro environment…

The combination of our record sales performance, unmatched customer loyalty, and strength of our ecosystem drove our active installed base of devices to a new all-time high.

Even though Apple shares have fallen in after-hours trading, they have proven especially lucrative to own over the past few years. Apple is now up 17.9% year to date in 2021 so far, and up 32.3% over the past 12 months. The company has also given investors an eye-watering return of 461% over the past 5 years.

At Apple’s last closing stock price, this tech giant has a market capitalisation of US$2.52 trillion, with a dividend yield of 0.55%.

The post Apple (NASDAQ:AAPL) reports quarterly results, how far from the tree did they fall? appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Apple. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Apple. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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