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<ul class="summary-list"><li>Alphabet, Google's parent company, reported its third-quarter earnings on Tuesday.</li><li>The company delivered beats on revenue, EPS, its advertising business, and Google Cloud revenue, which grew 35% year over year.</li></ul><a target="_blank" class="" href="https://www.businessinsider.com/google">Google's</a> parent company, Alphabet, released better-than-expected earnings results for the third quarter after the closing bell on Tuesday.Revenue from Google Cloud grew 35% year over year to $11.4 billion, bolstered by "accelerated growth" in the company's AI products, the company said.Here are the key numbers for the third quarter compared to analysts' expectations:<ul><li>Earnings per share: $2.12 vs. $1.83 expected</li><li>Revenue: $88.27 billion vs. $86.44 billion expected</li><li>Google Advertising: $65.9 billion vs. $65.5 billion</li><li>YouTube advertising revenue: $8.92 billion vs. $8.89 billion expected</li><li>Google Cloud revenue: $11.35 billion vs. $10.79 billion expected </li></ul>Source for analyst expectations: Bloomberg Alphabet and Google CEO Sundar Pichai said in the earnings release that "YouTube's total ads and subscription revenues surpassed $50 billion over the past four quarters for the first time.""Our commitment to innovation, as well as our long-term focus and investment in AI, are paying off with consumers and partners benefiting from our AI tools," he added. "We generated strong revenue growth in the quarter, and our ongoing efforts to improve efficiency helped deliver improved margins."The search giant's earnings arrived less than three months after a <a target="_blank" class="" href="https://www.businessinsider.com/google-violated-antitrust-law-to-keep-search-monopoly-judge-rules-2024-8">federal judge ruled the company violated antitrust law</a> by illegally maintaining a search monopoly. Its multibillion-dollar-a-year search deal with Apple and other paid partnerships came under the microscope. A potential breakup hangs over the company's head, and a protracted legal fight is expected.The company in October also announced a major reorganization amid its growing AI efforts, moving the Gemini app team under the Google DeepMind team led by Demis Hassabis.Ahead of a 4:30 p.m. ET earnings call with analysts, Wall Street analysts are looking for updates on the company's massive AI investments, advertising business, subscriptions like YouTube TV and Premium, and how its popular search product is doing against increasing competition from AI startups like OpenAI and Perplexity."Google felt the heat from legal pressure this quarter," said Evelyn Mitchell-Wolf, an analyst at Emarketer, a sister company to Business Insider. "A federal judge ruled Google operates illegal monopolies in search; Google defended itself in court for another antitrust case against its ad tech business; and the clock is ticking on Google's temporary administrative stay for the remedies delivered in yet another antitrust case concerning its Play Store. But none of these will affect Google's earnings yet."This post is developing…

Google delivers a big earnings beat

Indian companies across multiple sectors have reported disappointing results in the second quarter of fiscal year 2025, notes a new JM Financials report. Consequently, their poor performance has triggered stock price corrections for affected companies. The brunt of this weaker than expected earnings was largely borne by consumer centric sectors like FMCG (fast moving consumer goods), retail, and auto, which slacked largely due to dampened urban demand. For instance, India's largest automaker, Maruti Suzuki, reported a 5% YoY decline in its total domestic passenger vehicle wholesales, largely on the back of pent-up inventory. Similarly, Honda reported a staggering 23% YoY dip in its total sales during October 2024. A recent report by Bernstein noted that around 48% of the companies listed on the NSE100 index missed their earnings estimate for Q2FY25, the highest since March 2020. Most companies have mentioned deteriorated domestic demand, urban slowing, macroeconomic risk, and margin pressures as the main reasons behind the dip. "The quarter's earnings have made investors nervous," noted the JM Financials report. The challenging environment stems from multiple factors: softening consumer demand, rising input costs, and companies' limited ability to increase prices. Moreover, this is not limited to just one quarter. Companies have been reporting weak, single-digit earnings growth for the last six consecutive quarters. Data from India Data Hub also suggests that corporate profits of listed companies plunged by as much as 3.4% during the quarter ended September 30, 2024. This is in stark contrast to the year-ago period, where they had shot up by over 40% The oil and gas sector had a difficult quarter, with refiners hit by weak margins and city gas distributors struggling with higher input costs. Financial institutions showed mixed results. While government-owned banks reported strong numbers, microfinance institutions and some private lenders faced massive difficulties with their unsecured loans. Most notable amongst this was the case of IndusInd Bank, which saw its net profits dip by 40% amidst burgeoning provisions, which climbed 87% to Rs 1,820 crore in Q2, as against Rs 974 crore reported in the year-ago period. <h2>Markets head southwards</h2>The selling trend by FPIs has dragged down the major Indian indices, the Nifty 50 and Sensex, both of which have dropped by around 8% since the beginning of this selling spree in October. According to National Securities Depository Ltd. (NSDL) data, FPIs offloaded equities worth a significant Rs 19,994 crore in just the first five trading sessions of November last week. The impact is clearly visible on Indian stock markets. Data suggests that while every sector in October closed the month in red, auto, oil and gas, and consumer durables were the most badly hit, each declining by as much as 10% during the month. Another indicator underlining the inherent weakness of the market was that the month saw only 242 stocks hit their 52-week high, significantly below the usual monthly average of 310.

India Inc. stares at an earnings dearth in Q2, FMCG, auto, and consumer durables falter

<keyword id="19898109" type="General" weightage="100" keywordseo="Paytm" source="keywords" meta.keywordsubtype="org" meta.entityname="Paytm" meta.hostid="261" meta.entityid="Paytm">Paytm</keyword>'s parent company, <keyword id="20253123" type="General" weightage="20" keywordseo="One97-Communications" source="keywords" meta.keywordsubtype="org" meta.entityname="One97 Communications" meta.hostid="261" meta.entityid="One97 Communications">One97 Communications</keyword>, declared its Q2FY25 results today, announcing a one-time, exceptional profit of Rs 1,345 crore during the quarter, thanks to the sale of its entertainment ticketing business. The company's PAT (profit after tax) stood at Rs 930 crore. Notably, without this windfall gain, Paytm's finances would still be in red, with the company racking up losses worth Rs 415 crore. Paytm was in red in the year-ago period as well, incurring losses worth Rs 290.5 crore. This windfall profit also improved Paytm's EBITDA by Rs 388 crore on a QoQ basis. The company's revenue also saw a slight uptick of 10.5% quarterly to Rs 1,659 crore, as opposed to Rs 1,501 crore in the previous quarter. But on a year-on-year basis, Paytm's revenue dipped significantly by 34%. The company also announced that it has entered into a DLG (<keyword id="23641220" type="General" weightage="20" keywordseo="Default-Loss-Guarantee" source="keywords">default loss guarantee</keyword>) model for its merchant loans of about Rs 225 crore with SMFG India Credit. Under this arrangement, Paytm will be first in line to take a hit in case of a loss that emerges from borrowers defaulting or skipping their payments. "Following the regulatory framework and the emerging market practice, we see increased willingness from lenders to partner and allocate more capital in the default loss. The DLG model will help to increase disbursements with the existing partners and expand partnerships with new lenders for the loan distribution,” said the company in its earnings release today. The company's revenue from its payment business also inched up 9% on a quarterly basis, along with its revenue from <keyword id="19976433" type="General" weightage="20" keywordseo="financial-services" source="keywords">financial services</keyword>, which also grew by 34% QoQ. At present, Paytm's total merchant subscriptions stand at 1.12 crore, with the company garnering 3 lakh new merchants during the quarter. During the previous quarter, Paytm's <keyword id="20253122" type="General" weightage="20" keywordseo="gross-merchandise-value" source="keywords">gross merchandise value</keyword> (GMV) also inched up by 5% on a sequential basis, which experts anticipate will continue in the coming quarters, just as India braces for the festive season. Per its release, Paytm aims to achieve <keyword id="23641219" type="General" weightage="20" keywordseo="EBITDA-profitability" source="keywords">EBITDA profitability</keyword> (before ESOPs) by the fourth quarter of this financial year. However, investors remained unimpressed with Paytm's performance, with its share slipping by around 3.96% during the day to trade at Rs 697.20. The stock has a YTD (yield-to-date) of 7.91% during the year.

Paytm declares Q2 results, earns Rs 930 crore as windfall gains by way of sale of ticketing business to Zomato

If you are living in a metropolitan area in India, chances are you regularly order food from <keyword id="19901323" type="General" weightage="100" keywordseo="Zomato" source="keywords" meta.keywordsubtype="org" meta.entityname="Zomato" meta.hostid="261" meta.entityid="Zomato">Zomato</keyword>. The company launched in India in 2008 and was earlier just a food delivery service. Overtime, it evolved into a food discovery platform as people can rate restaurants, reserve tables, leave reviews and more. Now, we all know that when we order food via Zomato we end up paying slightly more. There are various charges that the company levies on users including handling charges and delivery fee. In August last year, Zomato started charging a <keyword id="20299300" type="General" weightage="20" keywordseo="platform-fee" source="keywords">platform fee</keyword> from users. And this has proved to be a successful business move for the platform as during its annual report, the company revealed that it has collected Rs 83 crore till March from levying platform fee. So what exactly is this platform fee that has raked in moolah from the company? Moreover, how does it benefit Zomato and what effect does it have on the end consumer? Read on to find out. <h2>What is Zomato’s platform fee?</h2>Zomato's platform fee is a small additional charge that the company adds to your order. Think of it as a convenience fee for using the app's services, including delivery, customer support, and the seamless experience of browsing through hundreds of restaurant options. Initially, the company used to levy Rs 2 per order as platform fee. But that amount has grown in the last one year and today Zomato charges Rs 6 as platform fee in key areas. It can be located when you load the bill details of your order. <div type="image" title="Zomato levies platform fee" msid="112313825" hostid="261" sizebytes="48995" caption="&amp;lt;p&amp;gt;Zomato levies platform fee&amp;lt;/p&amp;gt;"></div> <h2>How it impacts Zomato</h2>The Platform fee might seem like a minor addition to your bill, but when multiplied by millions of orders, it becomes a significant source of revenue for Zomato. Since every order placed incurs this charge, it increases the company’s "take rates" — the profit made per order. This fee serves as a crucial, controllable revenue stream in the supply chain, providing a steady income source that companies can directly manage. Alongside advertising fees and restaurant commissions, the platform fee has become a significant revenue generator for Zomato. In other words, levying a platform fee is basically a clever way for Zomato to boost its revenue without significantly increasing the prices of individual menu items. During its annual report, Zomato identified the platform fee as one of the three main factors driving Zomato's Adjusted Revenue, which saw a 27 percent year-on-year growth, reaching Rs 7,792 crore in FY24. "Adjusted Revenue as a percentage of GOV (gross order value) continued to rise, primarily due to higher restaurant commission take-rates, improved ad monetization, and the introduction of the platform fee from Q2FY24 onwards," the report highlighted. The report also added that all of the above mentioned factors compensated for the reduction in customer delivery charges per order due to the free delivery benefit available on Gold orders. <h2>How are you affected by Zomato’s platform fee?</h2>Zomato’s report also revealed that most late-night orders in the last fiscal year came from Delhi NCR, while Bengaluru led in the number of breakfast orders. Now the question that arises is, how exactly is the end consumer being affected by the platform fee? One of the obvious answers is that it makes your order a bit more expensive. Especially if you order from the food delivery giant on a daily basis. You might not even notice the addition of Rs 6 in your final bill but if you order food from Zomato everyday and start calculating, it will come up to be a noticeable amount. Say you have ordered food from Zomato everyday since the last three months. In this case, you would have ended up paying around Rs 540 as platform fee. Moreover, platform fee tends to be higher during peak hours or weather conditions. Thus, the order ends up being even costlier. Just last month, CEO of Bengaluru-based company <keyword id="22689022" type="General" weightage="20" keywordseo="capitalmind-deepak-shenoy" source="keywords">Capitalmind Deepak Shenoy</keyword>, was making headlines for saying that he has reduced ordering food from <keyword id="19896956" type="General" weightage="20" keywordseo="swiggy" source="keywords">Swiggy</keyword> and Zomato because of higher platform fees. “Massively reduced ordering from Swiggy/Zomato, down to just once maybe on a weekend, like today and noticed their 'platform' charge is now ₹6. Happy that I weaned myself off the daily ordering. They also take 30 percent from restaurants, btw,” he wrote in a post on X (earlier called Twitter).

Zomato earned Rs 83 crore from platform fee: What it is, how it benefits the company and how it affects you

<ul class="summary-list"><li>My bank has lowered the APY on my high-yield savings account by almost half a percent recently.</li><li>I'm not happy that my cash is generating less returns now, and I don't know what to do.</li></ul>It's never pleasant to receive an email from your bank informing you that the interest rate on your <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/banking/best-high-yield-savings-accounts-rates-right-now">high-yield savings account</a> is decreasing.Unfortunately, like many Americans happy to collect a robust yield on their savings, I've gotten three of these notifications in the last three months as the Federal Reserve has begun to lower interest rates. From August until the end of October, the annual percentage yield (APY) on my high-yield savings account has fallen from 4.6% to 4.2%.I opened this bank account almost two years ago, right after graduating from college. Back in 2023, with inflation still elevated, interest rates were at their highest levels since the Great Financial Crisis, and it seemed like most banks were offering near-5% yields on savings. After paying off my bills every month, I would put the remainder of my paycheck into my high-yield savings account and watch the number creep up.Now, it looks like the days of a 5% APY are in the past. In September, the Federal Reserve dished out a 50 basis-point rate cut, signifying the beginning of the end for high rates. Continuing this trend, the central bank's chair, Jerome Powell, announced a <a target="_blank" href="https://www.businessinsider.com/federal-reserve-cuts-interest-rates-quarter-point-powell-inflation-election-2024-11">25 basis-point cut</a> last week, and is expected to slash rates further in the months ahead.Is there anything I can do about the state of my savings account, or do I have to watch my yield erode away slowly? Curious, I asked three financial experts for their advice on this topic.As a famous politician once said, we didn't just fall out of a coconut tree. Context is important. Patti Black, a financial advisor at Savant Wealth Management, reminded me that the recent high interest rate environment is a marked departure from the last decade, where interest rates were near zero and there was no yield on cash to be found. So, while yields dropping from nearly 5% might seem like a tough pill to swallow for someone like me who just opened an account in the last couple of years, it's still a pretty good deal when you consider where rates have been in the past.I didn't have a bank account during the post-2008 zero-interest rate policy era, so this was helpful context to have. Perhaps my generation is indeed coddled — first by our parents and now by Jerome Powell's post-pandemic rate hikes.Black also suggested that I switch up my perspective. While a rate-cutting cycle means less return on my cash, it also means lower borrowing costs for a car loan or a mortgage, which is good news for the housing market.But there are other options for where I can have my money sit, Black said. Of course, one alternative is a <a target="_blank" href="https://www.businessinsider.com/cd-rates-certificate-deposit-high-interest-where-to-invest-now-2024-10">certificate of deposit</a> (CD), which is essentially a savings account that holds money at a fixed interest rate for a fixed period of time. CDs generally pay higher interest rates than savings and money market accounts in exchange for locking up your money for anywhere between three months to many years. However, my hands are a little tied. A well-known rule of thumb is to keep three to six months of living expenses available in your bank account as an emergency fund (read: liquid and highly accessible), so it's not a good idea to lock up money in my high-yield savings account for a prolonged period time. I could withdraw my money from the CD if needed, but I'd have to pay back some or all of the interest I'd generated up until that point as a penalty.With this in mind, Black said that sometimes it doesn't matter what the rate on the high-yield savings account is — it's the best place to park cash for easy access.Armed with this context, I still wanted to see if there were more ways to put my cash to work for me.Daniel Milan, financial advisor at Cornerstone Financial Services, had some more thoughts on CDs. A three-month CD could be a good option if I were comfortable locking up my money for that period of time, according to Milan.My bank didn't offer CDs, so I would need to open up a new bank account, which isn't necessarily a bad thing. Some financial experts recommend having <a target="_blank" class="" href="https://www.businessinsider.com/personal-finance/banking/how-many-savings-accounts-can-you-have">multiple bank accounts</a> for different savings goals. Searching online, I saw <a target="_blank" href="https://www.businessinsider.com/personal-finance/banking/best-3-month-cd-rates">multiple options</a> yielding over 4.6%.However, Milan didn't recommend locking up my money for longer. Usually, the longer the term of the CD, the higher the rate. But that's not always the case in today's market."In this current environment, it makes no sense to go further out than three months on a CD because the three-month CD is paying you more than a one-year or two-year right now," Milan said.Looking at CD offerings from a variety of banks, I discovered that this was indeed true — generally, the longer the CD duration, the lower the rate, especially after a 1-year duration. Rates on 6-month and 9-month CDs were also attractive depending on the bank, but again, my liquidity needs take those off the table.Many of the banks I looked at didn't offer short-term CDs, either. For example, one option offered a 4.5% APY on an 11-month CD, 3.7% on a 2-year, and 3.5% on a 5-year.It wouldn't make sense to move my money out of my savings account without high enough compensation for the lower liquidity."You're not getting paid for that illiquidity," Milan told me.Short-term <a target="_blank" href="https://markets.businessinsider.com/bonds">Treasury bills</a> are another investment option for higher yield, and they offer more liquidity than CDs, according to Richard McHorter, a private wealth advisor at SRM Private Wealth. A three-month Treasury bill currently yields 4.43%.There's also the added benefit of tax savings, which is especially appealing for McHorter, who lives in California: "If you're a resident of a high-income tax state, I would be looking at Treasury bills."As a resident of New York City, the idea of lower taxes certainly appeals to me. If I were to buy Treasury bills, I would only need to pay federal taxes, bypassing state and local income taxes.McHorter also said that there's a lot of uncertainty about interest rates right now, and they could actually start going back up again. Trump's proposed <a target="_blank" class="" href="https://www.businessinsider.com/trump-tariffs-hit-company-stock-profits-hardest-china-investing-manufacturing-2024-11">tariff policies</a> could increase inflation, in which case the Fed would probably increase rates to combat an overheating economy, he said.If I buy a three-month Treasury bill, I can reassess the inflation situation when I get my money back in three months and reinvest it accordingly, McHorter said.When it comes to interest rates and inflation, pay attention to the data and don't try to predict the market with your money, Milan advised. <a target="_blank" href="https://www.businessinsider.com/federal-reserve-cuts-interest-rates-quarter-point-powell-inflation-election-2024-11">Jerome Powell</a> himself has said that it's too soon to say how the election results could reshape markets and interest rates."My advice to anybody would be: just be diligent in reading and interpreting the data as it comes out," Milan said. Watch inflation data and Fed commentary, and base your investing decisions on the information you have at hand.It feels like the market is a bit in limbo as everyone waits for the effects of the election to ripple through, but as Black mentioned, not taking any action right now isn't the worst decision.What's next? For starters, I'm going to sit down and crunch some numbers for what three to six months of living expenses look like for me and keep that in my high-yield savings account. With the money I have left over, I have some good options.Are you a Gen-Zer who has recently been faced with an investing predicament? Feel free to reach out to Christine at <a target="_blank" href="mailto:cji@businessinsider.com">cji@businessinsider.com</a> to share your story.

The interest rate on my high-yield savings account keeps dropping. I asked 3 experts how to earn more on my cash.

<ul class="summary-list"><li>Khayla McCoy quadrupled her income over 10 years and now makes over $200,000 annually.</li><li>She started with a $39,000 salary in NYC, facing financial challenges and strict budgeting.</li></ul>This as-told-to essay is based on a conversation with Khayla McCoy, a 33-year-old business analyst who more than quadrupled her income over 10 years. The following has been edited for length and clarity.I grew up in Madisonville, Tennessee, where many people live below the poverty line. The only conversations we had were those around lack. Having enough money for basic needs felt far-fetched.I always knew that I wanted to achieve <a target="_blank" href="https://www.businessinsider.com/personal-finance/investing/financial-independence-retire-early">financial freedom</a>. I graduated in 2013 with a degree in biology and landed my first job in NYC as a sessions assistant, making $39,000. I was the first person in my family to make that much money.By 2019, I was making $90,000. Now, I make over $200,000 annually in total compensation. Having more money has truly made me happier.<h2 id="2207c7d4-40ba-408a-8035-3a8743745ce7">My first salary was tight for living in NYC</h2>When I <a target="_blank" href="https://www.businessinsider.com/moving-denmark-nyc-happiest-country-exciting-2024-10">moved to NYC</a>, I had two roommates and had to stick to a strict budget to afford my expenses, from rent, around $1,250, to <a target="_blank" class="" href="https://www.businessinsider.com/student-loan-forgiveness-under-trump-biden-debt-relief-efforts-stalled-2024-11">student loans</a> and every day costs.My salary barely covered my bills, but I was committed to finding ways to afford living there. I knew my first job would be a stepping stone to bigger roles and higher-paying salaries.<h2 id="e4c9a9b7-68d7-4357-aed5-c0c2323b34d8">I took a lot of personal finance courses</h2>I enrolled in a personal finance course from <a target="_blank" href="https://www.ellevest.com/">Ellevest</a> and attended different events I found on <a target="_blank" href="https://www.meetup.com/">Meetup</a>. I learned financial discipline, thinking ahead for unforeseen expenses, and developing a method for organizing my money. I set up different cash accounts for recurring bills, <a target="_blank" class="" href="https://www.businessinsider.com/used-emergency-fund-quit-rto-job-but-wish-saved-more-2024-11">emergency savings</a>, and everyday spending needs.I hesitated to take risks with my money. At first, I deferred investing in stocks and a 401(k). Shortly after I turned 24, I finally felt like I was finding my financial footing and began <a target="_blank" href="https://www.businessinsider.com/personal-finance/investing/average-401k-balance">investing around 5% of my salary in my 401(k)</a>.I started to understand the benefits of investing in the market. As I obtained higher salaries, I invested more in my 401(k) and other investment accounts.<h2 id="2b497601-83d9-4126-a539-cadd339fa1c3">I was always stressed about money</h2>My family was proud of me, and I lived many people's dreams of working in NYC, but I had this deep paralyzing fear that I would mess up my career and end up with no money.I stayed at my sessions assistant job for two years, and my salary grew to $42,000. In 2015, I had a family emergency and left the workforce for two years. When I could work again, I moved back to NYC, decided to pause my career in healthcare, and pivoted.<h2 id="abe35eeb-cfdd-43e5-b1ba-c675a5c271c5">I invested money to help me make career jumps</h2>I enrolled in an associate degree program from FIDM in beauty industry merchandising and marketing, which cost $30,000. I took out further student loans for this degree.In 2017, I landed a job in consumer packaged goods, making $50,700. After two years there, I decided I needed a better-paying job.I took a data science course at <a target="_blank" href="https://generalassemb.ly/students/courses/data-science-short-course">General Assembly</a> to learn how to use, analyze, and drive insights from data. The course cost $4,000, which was covered by a tuition reimbursement program at my former company.In 2019, I got a job at <a target="_blank" href="https://www.businessinsider.com/blackrocks-next-big-bet-private-markets-2024-10">BlackRock</a> as a data analyst, which doubled my former salary. I was proud of myself, but I still had recurring anxiety about losing the job and the money.In 2021, I landed a job at <a target="_blank" href="https://www.businessinsider.com/google-research-head-career-advice-learn-to-code-2024-11">Google</a>, bumping my salary up again. That's when my finances seriously changed, and so did my happiness.<h2 id="e697d160-8bb3-43ac-938d-0161daf1dda8">A high-paying job came with the benefit of having peace of mind</h2>When I started at Google, my base salary was $132,000. I felt financially calm for the first time. I knew I had the money to pay for whatever was thrown my way.When I faced a health scare this year, I had health insurance and a savings account to help me pay for those expenses without taking on medical debt. My total medical expenses were over $60,000 — I never could've covered them without my current salary and benefits.<h2 id="689924f5-0764-4eae-a5c0-ec94e279ae63">Earning six figures changed how I approached finances, but it didn't happen quickly</h2>When you come from a lower socioeconomic background, you become accustomed to believing many things you need are actually wants, like going to the dentist for an annual teeth cleaning. I'd convince myself to skip it because I thought I needed to stretch my cash to see how far it could go.It took a while to redefine my budget. When I was 30, I felt like I finally figured this out, only because I had seen myself change my circumstances and create a much different life than the one I grew up in.<h2 id="a6a5c2ea-f2e8-4a90-8a27-489a6f8019e3">In my experience, the more money I've made, the less stressful the job has been</h2>When I was making less money, I felt like I had to be perfect at that job because I never wanted to be in a position where I was disposable to the company. Now, I don't want to lose my job, but I would have a cushion if that happened.The other reason work feels less stressful is that my mindset has become more peaceful now that I'm not always thinking about money.<h2 id="c205674f-3467-4b6e-940e-ca2bf76f815a">I'm passionate about helping other women change the relationship they have with money</h2>I became the person everyone came to for financial advice in my friend group, so I started an <a target="_blank" href="https://edopal.com/">online community</a> that helps women define their relationship with money. I hope to use my money lessons to help others make better financial decisions.When people say money doesn't buy happiness, I tell them I disagree and give examples of how healthcare, safe shelter, and the ability to engage in hobbies and take healthy risks all support health and happiness. If I can't afford to make doctor's appointments or get my car fixed, those things directly impact my ability to show up in the world how I want.I always had a voice in my head that said if you want to have a chance to live a comfortable and productive life, you'll need to make a lot of money. That's the reality of it for me.

I earn $200,000 at Google after starting my career earning under $40,000. The reality is that money does buy happiness.

<ul class="summary-list"><li>Investment bankers have a language of their own, even when discussing mundane workplace topics.</li><li>It can make the industry seem more complicated than it really is.</li></ul>If a random person tunes into a quarterly bank earnings call or stands in line at a coffee shop behind a pair of bankers, it's likely that half the conversation would be indecipherable to them.That's not only because finance is inherently technical. Part of what makes working on Wall Street appear so complicated and mystical to outsiders is the distinct vernacular with which financiers speak — even when discussing everyday topics like bonuses and PowerPoint presentations.If a CEO says he or she is "exploring strategic alternatives," it often just means the company is trying to sell an <a target="_blank" class="" href="https://www.businessinsider.com/goldman-sachs-investor-day-david-solomon-addresses-consumer-banking">underperforming business line</a>. A "coffee chat" in the finance recruiting world is usually code for a preliminary job interview. And so on.The use of such a specific, insider-only terminology makes things seem more complicated than they really are. It's an extension of the industry's culture as a whole: exclusive, <a target="_blank" class="" href="https://www.businessinsider.com/goldman-sachs-internship-what-its-like-to-work-for-goldman-2023-8">difficult to break into</a>, and designed to weed out anyone who isn't willing to figure it out and keep up.Business Insider asked industry insiders to weigh in on the most common words and phrases they've used and heard around the office. To be sure, Wall Street's lingo can vary depending on the job at hand, whether advising on deals or helping large investors buy and sell stocks and bonds. These 12 terms, however, appear to be some of the foundational lingo of the <a target="_blank" class="" href="https://www.businessinsider.com/wall-street-q3-investment-banking-boom-could-be-upended-2024-10">investment-banking</a> industry.<div type="image" title="Man in a suit exits the Wall Street subway station" height="3333" width="5000" msid="114912728" hostid="261" sizebytes="762740"></div><h2 id="c552fd55-28a0-4d36-bafc-4e7489410764">Bake-off</h2>This is banker parlance for when several banks compete to be chosen as an advisor by a client, whether it be for an IPO, a merger, a sale, or a refinancing. Earlier this year, Morgan Stanley's <a target="_blank" href="https://www.businessinsider.com/wall-street-bake-offs-back-morgan-stanley-2q-ted-pick-2024-7">Ted Pick</a> said he was "seeing bake-offs running at triple-plus the year-over-year rate" during their second-quarter earnings call.<h2 id="85790bd6-0b79-4fe1-be87-7385d059ea22">Bespoke</h2>This word just sounds expensive. We point it out less because it's code for something else and more because of its widespread use in the industry. In the context of finance, this term refers to services that are tailored; customized; made specifically for a client's individual needs. You'll find it on a lot of financial firms' websites, often in a homepage paragraph that boasts all of the company's "bespoke client offerings."<h2 id="3f31f49a-de31-46ab-856a-c4167381e287">Color</h2>"Color" basically means detail and is often used when bankers are asking for more of something. Whether it's research or an explanation, asking for "more color" means "tell me more.""Can you give us some more color on __?" is how many <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-sp500-targets-bull-market-goldman-ubs-bmo-2024-10?_gl=1*11905bk*_ga*MjAyMTc5MjI0OS4xNzExNjUwMDgw*_ga_E21CV80ZCZ*MTczMDQ4NzkyNC4zMDkuMS4xNzMwNDg4NjUzLjYwLjAuMA..">stock analysts</a> begin their questions for CEOs in earnings calls.<h2 id="bb4d6609-6ba3-487c-91f4-c5bc4e5d0ac9">Deck</h2>Instead of saying slideshow or PowerPoint, bankers refer to multipage client presentations as "decks." It's common for <a target="_blank" class="" href="https://www.businessinsider.com/how-to-get-investment-banking-internship-wall-street-summer-2022">junior bankers</a> to spend hours toiling over edits in decks at the instruction of senior bankers who want to use them in client meetings. A manager might leave a comment on a page telling the junior banker to "kill this," which just means delete it. A manager might also instruct the junior banker to "take another stab" at it, which means doing the presentation over again and sending it back by email.<h2 id="cb2eadd9-3b97-4627-9c23-eb03ce892092">Boil the ocean</h2>It's obviously not possible to boil the ocean's water, and that's the idea behind this turn of phrase (though it didn't originate in banking). If a banker remarks that a junior need not "boil the ocean," it basically means they're doing too much or making something more complicated than it needs to be.<div type="image" title="A man in a suit walks down the street" height="3000" width="4500" msid="114912724" hostid="261" sizebytes="562010"></div><h2 id="913e2169-95a0-45a2-ba4c-442015fb4d1b">Capacity</h2>Capacity is another word for bandwidth, and this turn of phrase is often used by associates or VPs who need help from lower-ranking investment-banking analysts. The unspoken rule is that to be a "good" analyst, the only correct answer when a senior asks them if they "have capacity" to edit a 50-page deck in an hour is yes. (Their superiors might also follow up by assuring them that it "won't be a heavy lift.")<h2 id="677ff694-418a-4ab6-8717-bda4e34cdc4b">Exit opps</h2>In private-equity land, making an "exit" usually refers to the sale of a firm's portfolio company, hopefully at a good return on investment. In the banking world, it's morphed into another usage: a new job."Exit opps," short for exit opportunities, specifically refers to the job prospects that are reasonably attainable after leaving a given bank or firm. When a college student is deciding on <a target="_blank" class="" href="https://www.businessinsider.com/goldman-sachs-interns-discuss-summer-job-how-to-succeed-2024-6">investment-banking internships</a>, for example, he or she might take into consideration whether a specific firm has "good exit opps." For many junior bankers, good exit opps often refers to the potential to get a job in <a target="_blank" class="" href="https://www.businessinsider.com/private-equity-firms-start-recruiting-early-investment-bank-apollo-kkr-2024-6">private equity</a> after the standard two-year analyst program is over. A bank with great exit opps might have a lot of alumni working for top private equity firms, for example.<h2 id="188b045c-3c3a-499f-8ccd-98e6dcb1c537">Staffer</h2>In layman's terms, "staffer" would usually refer to any person who works at a company or organization. In the investment banking world, "staffer" is very specific job and title referring to a person (usually a VP) who is responsible for allocating work to junior bankers and assigning them to specific deal teams. They have a lot of power over the juniors' lives, including the quality of deals they work on and their share of the drudge work.Usually, the staffer role is temporary and just one of the VP's many responsibilities.<h2 id="71e4a209-feb0-4f42-9b1a-8833bcbf1a37">Sweaty</h2>This term refers to how many hours or how hard a particular investment banking group tends to work. You might hear, for example, someone say that the healthcare team at XYZ investment bank is a "particularly sweaty" group to work in. Basically, that means they work really <a target="_blank" class="" href="https://www.businessinsider.com/wall-street-skepticism-80-hour-work-week-caps-jpmorgan-bofa-2024-9">long hours</a> — worse than usual (and the industry-wide norm is already in the 80 to 90-hour-per-week range).<h2 id="cdcaa769-dea6-4506-b71d-26de5ee2d0bf">The Street</h2>The Street (often written with a capital "S") is shorthand for Wall Street — not the literal Manhattan block, but the industry of high finance as a whole and those who work in it.You might hear someone in banking say, for example, that their firm has the "best culture on the Street" or that a particular group is "top of the Street in deal flow." A firm that pays fairly offers <a target="_blank" class="" href="https://www.businessinsider.com/investment-bank-analyst-associate-starting-salaries-goldman-sachs-jpmorgan-citi-morgan-stanley">compensation</a> that's "in line with the Street." In stock market talk, "trading with the Street" usually means someone is trading along the lines of majority opinion.<h2 id="0e18f23a-3ebd-4bd6-ae56-55ae38ba737f">Top-bucket</h2>Bonuses are indicative of one's performance — or at least some senior bankers' perception of performance. If you get a "top-bucket" bonus, it means your check was on the high end of the spectrum. Middle-bucket and bottom-bucket bonuses go accordingly. It's so much a part of the culture that the term is also used by higher-ups to describe their <a target="_blank" class="" href="https://www.businessinsider.com/survey-reveals-junior-analyst-salaries-best-banks-to-work-for-2022-11">junior bankers</a> professionally.If a first-year banker consistently pulls all-nighters to perfect client materials like decks and research summaries, their VP might say to the MD: "Wow, Jane is real top-bucket analyst." Jane might go on to get one of the highest bonuses in her analyst class at the end of the year. Someone might be called a "bottom-bucket analyst" if they aren't busy or are consistently the first to leave the desk. Bottom-bucket analysts tend to receive the least desirable assignments.<h2 id="ccc44d1b-ec92-4387-9101-c02bab702f22">Version up</h2>"Don't forget to version up so I can see your changes," an associate might tell a new analyst. Saving documents can get pretty complicated in banking. Each time a banker makes changes to client materials pre-meeting — like a deck — it's standard practice for every round of edits or changes to be saved as a new file. This is done in case a file crashes or someone needs to refer to an older draft. Bankers "level up" by adding v02, v03, v04, etc., to the end of the file name.

How to talk like a banker

<keyword id="20024191" type="General" weightage="20" keywordseo="Reliance-Power" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Power" meta.hostid="261" meta.entityid="Reliance Power">Reliance Power</keyword> said it has received <keyword id="21075266" type="General" weightage="20" keywordseo="shareholders-approval" source="keywords">shareholders' approval</keyword> to raise <keyword id="23666886" type="General" weightage="20" keywordseo="Rs-1524-60-crore" source="keywords">Rs 1,524.60 crore</keyword> through issuance of <keyword id="20770487" type="General" weightage="20" keywordseo="preferential-shares" source="keywords">preferential shares</keyword>. A resolution through a postal ballot notice has been passed with requisite majority, the company said in a late night stock exchange filing on Wednesday. According to the postal ballot notice, the company will raise up to Rs 1,524.60 crore by preferential issue of up to 46.20 crore <keyword id="20035340" type="General" weightage="20" keywordseo="equity-shares" source="keywords">equity shares</keyword> and/or warrants convertible into equivalent number of equity shares at a price of Rs 33 per apiece. On September 23, the board of Reliance Power Ltd had approved raising Rs 1,524.60 crore through issue of preferential shares, wherein promoters will infuse Rs 600 crore into the company to advance its business. <div type="Article" hostid="261" msid="79183505" title="Happy Dhanteras 2024 messages and wishes" mstype="2" mssubtype="0"></div> Reliance Infrastructure, the promoter of the company, will enhance its equity stake by over Rs 600 crore. The other investors who will participate in the preferential issue include Authum Investment and Infrastructure Ltd and Sanatan Financial Advisory Services. The fresh fund would be utilised for expansion of business operations directly and/or through investment in subsidiaries and joint ventures, debt reduction and for general corporate purposes, the company said. The preferential issue will enhance the company's net worth from about Rs 11,155 crore to over Rs 12,680 crore, it said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms" target="_blank">Afcons Infrastructure IPO – GMP, risk factors and all you need to know</a><a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms" target="_blank">UPI refund to digital arrest scam, here are some online scams you need to be aware of</a><a href="https://www.businessinsider.in/stock-market/news/waaree-energies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114508632.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/waaree-energies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114508632.cms" target="_blank">Waaree Energies IPO allotment – How to check allotment, IPO GMP, listing date and more</a>

Reliance Power gets shareholders' nod to raise ₹1,525 crore via preferential shares

Shares of <keyword id="19950203" type="General" weightage="100" keywordseo="TCS" source="keywords">TCS</keyword> on Friday climbed over 3 per cent after the country's largest <keyword id="20069374" type="General" weightage="20" keywordseo="IT-services" source="keywords">IT services</keyword> player reported 8.7 per cent growth in the June quarter net profit at Rs 12,040 crore. The stock went up by 3.10 per cent to Rs 4,044.35 on the BSE. At the NSE, it rallied 3 per cent to Rs 4,044.90. The company's <keyword id="20097096" type="General" weightage="20" keywordseo="market-valuation" source="keywords">market valuation</keyword> jumped Rs 40,359.77 crore to Rs 14,59,626.96 crore in morning deals. The stock emerged as the biggest gainer among the Sensex pack. "The positive domestic cue is the better-than-expected numbers from TCS and positive management commentary which can lift most IT stocks," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. In the equity market, the 30-share BSE Sensex climbed 226.11 points to 80,123.45 in early trade. The <keyword id="19950205" type="General" weightage="20" keywordseo="nse-nifty" source="keywords">NSE Nifty</keyword> went up by 82.1 points to 24,398.05. <keyword id="19950119" type="General" weightage="20" keywordseo="Tata-Consultancy-Services" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Consultancy Services" meta.hostid="261" meta.entityid="Tata Consultancy Services">Tata Consultancy Services</keyword> (TCS) on Thursday posted an 8.7 per cent year-on-year rise in its consolidated net profit at Rs 12,040 crore for the first quarter ended June 2024. Net profit for the year-ago period stood at Rs 11,074 crore. The company - which competes in the IT services market with the likes of Infosys, Wipro and HCLTech - reported 5.4 per cent increase in revenue at Rs 62,613 crore for the quarter just ended. "I am pleased to report a strong start to the new fiscal year with all-round growth across industries and markets," K Krithivasan, Chief Executive Officer and Managing Director of TCS, said in a release. TCS has declared an interim dividend of Rs 10 per equity share of Re 1 each. Meanwhile, other IT stocks -- Infosys, Tech Mahindra, HCL Technologies and Wipro -- were also in demand.

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