美团内网公布信息显示，截至7月5日22时54分，美团即时零售当日订单已经突破了1.2亿单，其中，餐 饮订单已超过1亿单，占比超过80%。值得注意的是，就在当晚20时45分，美团内网曾显示即时零售日 订单突破了1亿。这也意味着，在2个小时的时间内，美团已产生了超过2000万笔订单。 这组数字背后或是由阿里与美团在暑期档开始的"补贴大战"所致。7月5日是暑期消费旺季正式开启后的 第一个周末，也是外卖消费的传统促销季，两大平台同步放出"满25减21""满16减16"、"满18减18""25 减20"等无门槛大额券，这近乎免单的超级红包，直接点燃消费市场。 有网友抢到了平台优惠券在网上晒开心："2元一杯的瑞幸真是炎炎夏日最佳解暑神器""麦当劳的早餐只 要7块，薅羊毛的快乐谁懂！" 由于大量用户涌入两大平台，昨日下午美团一度出现外卖点餐页面卡顿、优惠券使用异常、无法下单等 现象。对此，美团方面回应称，7月5日下午6点前后，因用户下单量突破历史峰值，触发了服务器限流 保护，美团App小范围地区用户出现了短时服务异常，现已全面恢复，大家可以正常下单。在此期间部 分受影响用户的优惠券，可延续至次日继续使用。此外，针对部分受系 ...

周四港股震荡下行，恒指、恒科指均跌约0.6%，阿里跌2.93%、美团跌2.54%、京东跌2.11%，三者均跌到4月以来的低位。 目前外卖行业价格战仍在进行中，淘宝闪购昨日宣布启动500亿元补贴计划，这轮价格战后续将走向何方？最终市场格局如何，高盛在最新的报告中进行 了推演。 据追风交易台消息，高盛在最新的报告中表示，这场外卖大战预计将持续更长时间，并且预警盈利承压，三者短期内出现盈利下滑。 然而，高盛认为，短期阵痛可以换取长期收益，本轮价格战根本目标是通过高频次的外卖服务获取用户流量，交叉销售至盈利能力更强的电商和旅行业 务，中期可能带来GMV利润率提升。 此外，高盛推演了三种情景，情景一也就是基本情景，美团将成功捍卫领导地位；情景二是双寡头格局，阿里和与美团平分秋色；情景三是"三足鼎立"的 碎片化市场。 中国互联网外卖配送价格战升级，高盛预警盈利承压 分析师指出，此轮竞争将持续更长时间，预计将在2025年9月达到投资峰值，随后有望在2025年下半年出现拐点。 与此前电商平台在数个季度内缩减投资规模的做法不同，所有参与公司都在争夺成为中国"日常应用"的地位，希望通过高频次的外卖配送服 务，交叉销售其低频次的电 ...

6月23日，阿里巴巴集团CEO（首席执行官）吴泳铭发布全员邮件，宣布即日起，饿了么、飞猪合并入 阿里中国电商事业群。范禹继续担任饿了么董事长兼CEO，向蒋凡汇报。南天继续担任飞猪CEO，向蒋 凡汇报。饿了么、飞猪继续保持公司化管理模式，业务决策执行上与中国电商事业群集中目标、统一作 战。 吴泳铭在全员邮件中称："这是我们从电商平台走向大消费平台的战略升级。未来，我们将更多从用户 角度出发优化整合业务模式和组织形态，为用户创造更丰富优质的生活消费体验。"这意味着，阿里将 进一步整合集团业务。 过去几个月，即时零售搅动了电商格局，并直接反映在相应数据上。淘宝闪购协同各方展现出的业务潜 力，促使阿里加大投入、整合资源。京东也在即时零售领域动作频频，为酒店、餐饮业务成立了新通路 事业部。6月23日，美团也正式宣布将全面拓展即时零售。巨头们试图通过前端高频服务吸引用户，并 利用交叉销售逻辑增强用户黏性与平台生态的丰富性，最终推动增长。 商务部国际贸易经济合作研究院发布的《即时零售行业发展报告（2024）》显示，2023年我国即时零售 规模已达6500亿元，预计到2030年将突破2万亿元。如今，超半数网民已形成即时消费习 ...

摩根士丹利发布研报称，计及最新外汇预测后，将同程旅行(21.5,-0.45,-2.05%)（00780）目标价上调 8%，由26港元升至28港元，而盈利预测及其他重要预测则维持不变，续予"增持"评级。大摩预计，今年中国 旅游需求将保持强劲，消费将由购物转向旅游或体验，而同程将在低线城市、交叉销售（cross-selling）上 升、新业务和国际扩张的带动下，继续扩大市场份额 摩根士丹利 同程旅行(00780):升目标价至28港元,评级"增持" ...

Group 1 - Paychex is set to announce earnings at the end of June, with a consensus forecast of approximately $1.20 per share, up from $1.12 in the same quarter last year, and revenues projected to rise by about 6.5% year-over-year to $1.38 billion [1] - The growth is expected to be driven by the strength in Management Solutions and Professional Employer Organization (PEO) services, with operating margins likely trending upward due to technology and data analytics [1] - The company has a current market capitalization of $57 billion, with revenue over the past twelve months at $5.4 billion, operating profits of $2.3 billion, and net income of $1.7 billion [2] Group 2 - Historical data shows that Paychex has recorded 20 earnings data points over the past five years, with 11 positive and 9 negative one-day (1D) returns, resulting in positive 1D returns approximately 55% of the time [5] - This percentage increases to 58% when considering data from the last 3 years, with a median of 3.6% for positive returns and -4.2% for negative returns [5] - The correlation between 1D, 5D, and 21D historical returns can provide insights for traders, particularly if the 1D and 5D returns exhibit high correlation [3][4]

机构：国证国际 研究员：王婷 经营数据：1）国内：Q1 酒店间夜量同比双位数增长，ADR 同比高个位数下降，但4-5 月降幅有收窄趋 势。携程老友会用户及GMV 同比翻倍增。2）出境：出境酒店及机票预订较1Q19 增20%，泰国短期波 动，但欧洲长线游增长强劲。 3）国际：国际OTA 酒店及机票预订量同比增超60%，亚太贡献主要增量。移动端订单占比约70%，一 站式服务心智强化，有望带动交叉销售率提升。4）入境：入境游预订同比增超100%（对比整体入境游 人次同比增40%），受益于免签、离境退税等政策利好。 国内业务前景稳健，海外是投入周期。五一假期国内旅游人次/收入同比增8%/6%。公司在业绩会披 露，五一假期携程国内酒店预订同比增20%，跨境订单同比增30%（其中入境预订同比增150%），机票 价格同比增长，酒店价格同比降幅收窄至低个位数。我们预计2 季度携程收入仍快于旅游大盘增长，受 益于持续丰富的供给、用户心智、份额稳定。预计国际OTA 业务GMV 及收入维持高增速（与投入一 致），中长期收入占比有望提升至20%+，市场区域将逐步从亚太拓展中东和欧洲。 财务预测及估值：我们微调2025 年收入及利润预 ...

ReposiTrak (TRAK) Q3 2025 Earnings Call May 15, 2025 04:15 PM ET Speaker0 Greetings, and welcome to the ReposiTrak Fiscal Third Quarter twenty twenty five Earnings Call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Jeff Stanlis with FNK IR. Mr. Stanlis, you may begin. Speaker1 Thank you, operator, and good afternoon, everyone. Thank y ...

Financial Data and Key Metrics Changes - The company reported a 35% year-over-year increase in volumes to $45 billion, with gross revenue less network fees rising 40% to $369 million [6][24] - Adjusted EBITDA increased 38% to $169 million, with adjusted EBITDA margins at 46%, slightly above the guidance of 45% [7][24] - Adjusted EPS for the quarter was $1.07 per share, reflecting strong performance [8][28] Business Line Data and Key Metrics Changes - Subscription and other revenue grew 77% year-over-year to $93 million, driven by success in SMB, SkyTab, and further penetration in the sports and entertainment vertical [24] - The company is focused on adding new merchants and expanding share of wallet, particularly in the restaurant sector with the introduction of SkyTab Air [9][10] Market Data and Key Metrics Changes - The company is experiencing stable volume trends across all end markets, with a slight deceleration attributed to seasonal factors [6][30] - International expansion is underway, with significant growth in markets like the UK, Ireland, and Germany, signing over 1,000 restaurants monthly [19][75] Company Strategy and Development Direction - The company is raising its full-year 2025 guidance, reflecting confidence in execution and growth drivers [6][29] - The acquisition of Global Blue is expected to unlock $80 million in revenue synergies by 2027, primarily through bundling payment solutions [21][90] - The company aims to replicate its successful U.S. model internationally, focusing on software and payment convergence [18][75] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding consumer spending trends, noting stability despite macroeconomic uncertainties [30][100] - The company has a proven track record of growing payment volumes during economic downturns, indicating resilience [22][30] Other Important Information - The company repurchased approximately 686,000 shares for $63 million in Q1 and continued repurchases in April [27] - Total indebtedness has a weighted average cost of 3.4%, with net leverage at approximately 2.4 times [28] Q&A Session Summary Question: How would you describe the competitive environment in international markets? - Management noted that the international opportunity mirrors the U.S. market evolution, with a lack of convergence among software, hardware, and payment solutions [36][39] Question: Can you touch on what you're seeing in the market more broadly into April? - Management indicated stable trends in same-store sales across various segments, with modest compression in restaurants and hotels [42][46] Question: Where are you on the synergy update from recent acquisitions? - Management highlighted successful cross-sell opportunities from acquisitions like Revel, contributing significantly to the SkyTab development pipeline [50][51] Question: What was organic and inorganic growth in the 40% GR LNF growth in the quarter? - Management stated that organic revenue growth is expected to be north of 20% for the year, with acquisitions providing noise in quarter-to-quarter comparisons [56][57] Question: Can you provide any color on the current revenue split between U.S. and international? - Management indicated that international revenue is still developing, with significant contributions expected from enterprise customers and SMB products [72][73]

LSI Industries (LYTS) Q3 2025 Earnings Call April 24, 2025 11:00 AM ET Company Participants James Galeese - Executive VP & CFOJames Clark - President and Chief Executive OfficerLeanne Hayden - Senior Associate - Equity Research Conference Call Participants Aaron Spychalla - Research AnalystAmit Dayal - Managing Director & Senior Technology Analyst Operator As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Jim Golis. Please go ahead. James Galeese Welcome, everyo ...

Sapiens International (SPNS) Q4 2024 Earnings Call February 18, 2025 09:30 AM ET Company Participants Yaffa Cohen-Ifrah - Chief Marketing Officer & Head of Investor RelationsRoni Al-Dor - President and CEORoni Giladi - Chief Financial OfficerAlex Zukerman - Chief Strategy OfficerAlexei Gogolev - Executive Director Conference Call Participants None - AnalystTavy Rosner - Analyst Operator Welcome to Sapiens International Corporation's twenty twenty four Fourth Quarter Financial Results Call. At this time, all ...