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Network18’s Moneycontrol Pro Crosses 1 Million Paying Subscribers, India’s Largest News Subscription Platform Now Among Top 15 Globally

suimt — Wed, 23 Oct 2024 07:22:37 +0000

Last Updated: October 23, 2024, 00:03 IST

Moneycontrol Pro has consistently expanded its array of cutting-edge features to help users invest in Indian markets. Image/News18

This milestone highlights Moneycontrol Pro’s reputation and track record as a trusted source of market intelligence for investors seeking in-depth, actionable insights to navigate India’s equity markets

Moneycontrol Pro, a premium offering from Network18’s market leader news and data platform Moneycontrol, has crossed the landmark of one million paying subscribers, cementing its position as India’s largest media subscription product and among the top 15 worldwide. Moneycontrol Pro’s paying subscriber numbers are now close to major international media platforms such as Financial Times and Barron’s.

This milestone highlights Moneycontrol Pro’s reputation and track record as a trusted source of market intelligence for investors seeking in-depth, actionable insights to navigate India’s equity markets.

Moneycontrol Pro has consistently expanded its array of cutting-edge features to help users invest in Indian markets. The platform helps users make informed investment decisions through cutting-edge fundamental research and features such as ‘Expert Edge’ with daily and weekly investment ideas, ‘Trade Like a Pro’ with technical ratings and trends, ‘Spot Winners’ with over 200 powerful stock scanners, ‘Deep Dive’ with quant-based insights and ‘Track Holdings’ of market gurus with big shark portfolios.

“The fact that more than a million people chose to repose their trust in Moneycontrol Pro is a testament to the value it brings to investors, helping them better understand markets and profit from it. We will continue to add more features to the product in our quest to make available to Pro users features normally available only in much pricier products used by institutional investors,” said Adil Zainulbhai, Chairman of Network18.

Moneycontrol Pro is powered by an expert team of research analysts who actively cover more than 270 major Indian companies across 25 sectors and provide sharp insights for informed decision-making on Indian stocks. Along with macro-economic, sectoral and company-level insights, the service provides customised portfolios for investors, which have consistently outperformed India’s benchmark indices.

“Moneycontrol Pro has become an indispensable companion for understanding Indian markets and has reduced the arbitrage on information for retail users looking to invest smartly,” added Zainulbhai, noting that Moneycontrol Pro’s subscriber base places it in the elite company of the world’s top digital media subscription brands such as the Wall Street Journal, New York Times and Financial Times.

Moneycontrol Pro’s paywalled content sits on Moneycontrol, India’s largest business, markets and finance platform which has more than 90 million unique visitors a month (as per September 2024 Google Analytics data) and over 7 million active app users. Expanding its footprint in the fintech space, Moneycontrol offers a diverse suite of finance products. In addition to expert analysis on equities, Moneycontrol users can secure personal loans, start fixed deposits, track their mutual funds and stocks portfolio, manage all their bank accounts and check credit scores on the platform. These new services, offered since 2023, solidify Moneycontrol’s position as a supermarket for all financial needs in India.

Moneycontrol is a part of Network18, a National Stock Exchange (NSE)-listed media powerhouse from India whose panoply of brands have a monthly reach of over 350 million viewers on TV and about 250 million unique visitors on its digital platforms. Network18 is owned by Reliance Industries Limited, whose group entities control nearly 57 per cent of its shares.

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Samsung Electronics Apologises for Disappointing Profit as It Struggles in AI Chips

Ashish Singh — Tue, 08 Oct 2024 07:03:56 +0000

Samsung Electronics warned its third-quarter profit would come in below market expectations and apologised for the disappointing performance with the tech giant lagging its rivals in supplying high-end chips to Nvidia in the booming AI market.

The rare apology illustrates the challenges facing the company, which has been the world’s biggest memory chipmaker for three decades but is battling growing competition in both conventional and advanced chips.

Samsung said its AI chip business with an unidentified major customer was hit by a delay, while Chinese chip rivals increased supplies of conventional chips, contributing to the decline in its semiconductor earnings.

The world’s largest memory chip, smartphone and TV maker estimated an operating profit of KRW 9.1 trillion ($6.78 billion or 56,631 crore) for the three months ended September 30, versus a KRW 10.3 trillion (roughly Rs. 64,086) LSEG SmartEstimate.

That would compare with KRW 2.43 trillion (roughly Rs. 15,117 crore) in the same period a year earlier and KRW 10.44 trillion (roughly Rs. 64,948 crore) in the preceding quarter.

“The earnings are a shock compared to what many analysts expected initially,” said Lee Min-hee, an analyst at BNK Investment & Securities.

“I don’t see its earnings improving in the current quarter,” he said, saying it lags SK Hynix in increasing sales of high bandwidth memory (HBM) chips to Nvidia and its high exposure to the Chinese market hurts.

Samsung’s late response to the AI chip market increases its reliance on traditional, lower-margin chips, making it more vulnerable to competition from China and slowing demand for smartphones and PCs, analysts say.

High-margin chips used in AI servers are driving a recovery in the chip market after a post-pandemic downturn last year. Still, Samsung has lagged SK Hynix in supplying high-bandwidth memory (HBM) chips to AI leader Nvidia.

“We have caused concerns about our technological competitiveness, with some talking about the crisis facing Samsung,” Young Hyun Jun, Vice Chairman, Device Solutions Division, Samsung Electronics, said.

“These are testing times,” he said, pledging to turn the challenge into an opportunity and focus on enhancing long-term technological competitiveness.

Samsung’s share price, already down more than 20 percent so far this year, fell 1.3 percent, underperforming a 0.4 percent fall in the benchmark KOSPI.

HBM Chips Delayed

Samsung said in a statement the start of sales of its high-end HBM3E chips to a major customer has been “delayed relative to our expectations”. It did not elaborate on the issue.

Samsung said in July it would start mass-producing the chips during the July to September period.

Earnings declined in the company’s memory chip business as Chinese rivals increased supplies of “legacy” products and some mobile customers adjusted inventories, offsetting solid demand for HBM and other chips used in servers, Samsung added.

Samsung’s contract chip manufacturing business, which designs and produces custom-made chips for other companies, likely continued to lose money in the third quarter as it is struggling to compete with leader TSMC, which counts Apple and Nvidia among its customers, analysts said.

Samsung’s chief Jay Y. Lee told Reuters on Monday that he is not interested in spinning off the contract chip manufacturing business as well as its logic chip designing operation.

Samsung said one-off costs such as provisions for “incentives” and the unfavourable local currency also contributed to the chip earnings decline.

Earnings in its mobile division improved from the preceding quarter on solid sales of its flagship smartphones, while earnings at its display unit grew as its customers, which include Apple, launched new models.

Samsung will announce detailed earnings results on October 31.

In May, Samsung abruptly replaced the chief of its semiconductor division, handing the reins to Jun in a bid to overcome a “chip crisis”.

Samsung is also cutting as much as 30 percent of overseas staff at some divisions, Reuters reported in September, underscoring the challenges it faces.

Its US rival Micron last month forecast first-quarter earnings ahead of Wall Street estimates and reported its highest quarterly revenue in over a decade on the back of booming demand for its memory chips used in AI.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)