CommBank has seen its cash profit jump to over $2.6 billion for the quarter as it pushes hard into business banking.
eToro, the stock broking platform, has popped more than 40% on its sharemarket debut after investors were scrambling to get a slice.
Airbnb now wants to book your personal trainer, spa day and celeb experience — not just your holiday home
_
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:05):
This is what the flux I'm brand, I'm justin And Friday,
the sixteenth of May, Josie Boy.
Speaker 2 (00:09):
Australia's unemployment rate held steady and four point one percent
for March. And this is the last key piece of
economic data before the RBA meets next Monday and Tuesday.
And Jessie Boy, despite all the uncertainty in the world,
all the big four banks here in Australia think that
we'll see a rate cut next week.
Speaker 1 (00:26):
Brusting my fingers and motto's fox dam. If you've been
listening to the pod this week, you are in the
prime position to win fifty bucks today. All you've got
to do is make sure you're competing in quick sticks
against the rest of the flux Dam three questions. If
you're the first to answer them all correctly, fifty bucks
is all yours. To make sure to download the Flux out,
turn your notifications on your chance to win today.
Speaker 2 (00:45):
Three pure stories today, Juzzy Boy, let's do it for
our first combank has seen its cash profit jump to
over two point six billion dollars for the quarter as
it pushes hard into business banking.
Speaker 1 (00:57):
Big Yellow getting the bag once again being answer telling
me all.
Speaker 2 (01:00):
So Commonwealth Bank is the Aussie bank with nearly sixteen
million customers.
Speaker 1 (01:03):
ZACBA man, it's not only Australia's largest bank, but also
the most valuable company on the ASX.
Speaker 2 (01:09):
So when Combank releases its quarterly results, everyone's ears prick up.
Speaker 1 (01:13):
And a man once again. Combank did not disappoint as
it announced a two point six billion dollar cash profit
for just the March quarter alone.
Speaker 2 (01:20):
Yeah, Combank could purchase nine entertainment, which is one quarter's
cash profit.
Speaker 1 (01:24):
Wow, and that's a six percent rise on the previous quarter.
Speaker 2 (01:27):
And while Combank typically dominates the home loan sector, it's
also been picking up in the business banking space too.
Speaker 1 (01:32):
Combank saw its business loans jump by more than nine percent,
which is a lot faster than the growth in other banks.
Speaker 2 (01:38):
But its secret source when it comes to continuing to
grow is also in the highly competitive and highly lucrative
home loan space.
Speaker 1 (01:44):
Yep. And while most banks lean on mortgage brokers, CBA
is focusing on growing its own home loan book through
its own channels.
Speaker 2 (01:51):
That'd be its own website, its own branches. So b man,
what is the key learning here? While mortgage broking brings
volume direct channels bring dem profits.
Speaker 1 (02:00):
Get this, be man. Mortgage brokers were responsible for nearly
seventy five percent of all new home loans in the
September twenty twenty four quarter.
Speaker 2 (02:07):
But Combank is bucking the trend and making a bank
while doing it.
Speaker 1 (02:10):
Yeah. Combank reported that sixty eight percent of its new
mortgages came through its own proprietary channels over the past quarter.
Speaker 2 (02:16):
And Jazi boy mortgages that come directly from proprietary channels
are much more profitable.
Speaker 1 (02:21):
In fact, broker originated loans are reported to be around
twenty to thirty percent less profitable according to Kombank's financial results.
Speaker 2 (02:27):
That's because of the upfront commissions and trail commissions given
to brokers on every loan written.
Speaker 1 (02:32):
So this strategic shift allows Combank to have greater control
over the customer experience.
Speaker 2 (02:37):
And potentially improve their profitability too.
Speaker 1 (02:39):
For our second story, e Toro, the shared trading platform,
has popped more than forty percent on its share market
debut after investors were scrambling to get a slice.
Speaker 2 (02:48):
So now investors are buying and selling e Toro stock
on the e Toro stock trading platform. Very meta, tell
me more?
Speaker 1 (02:54):
Okay, so e Toro is the Israeli trading and investment
platform that was founded in two thousand and seven and it.
Speaker 2 (03:00):
Has grown to over thirty eight million registered users around
the world.
Speaker 1 (03:03):
Largely off the back of its very heavy marketing.
Speaker 2 (03:06):
YEP it ran a heap of ads with Alec Baldwin,
as well as sponsoring five English Premier League clubs.
Speaker 1 (03:11):
Five Bundeslegger clubs in Germany and even Rugby Australia.
Speaker 2 (03:14):
But it's best known for letting its users trade and
follow others when it comes to their investments in stocks
and crypto and they man.
Speaker 1 (03:21):
On Wednesday, Etro listed on the Nasdaq and it shares
absolutely pop YEP.
Speaker 2 (03:25):
Its shares were priced at fifty two bucks but jumped
to over seventy four bucks at one point, which.
Speaker 1 (03:30):
Was a forty two percent gain in the same day.
Speaker 2 (03:32):
And duzzy boy, that's because the IPO was oversubscribed by
more than twenty times.
Speaker 1 (03:36):
That's like throwing a party for fifty people and having
one thousand people trying to squeeze in.
Speaker 2 (03:40):
And e Toro's debut was a very good sign for
the potential of other companies looking to IPO in the
not too distant future.
Speaker 1 (03:47):
So what is the key learning here?
Speaker 2 (03:48):
A key signal of IPO success is over subscription.
Speaker 1 (03:52):
That's when demand for shares exceeds the number of shares
that are offered.
Speaker 2 (03:55):
In e Toro's case, the demand was so high that
they increased the number of shares offered from ten million
to nearly twelve million shares.
Speaker 1 (04:02):
And despite that, the demand was reportedly still twenty times that.
Speaker 2 (04:05):
The good thing for etro is that over subscription can
create high and as.
Speaker 1 (04:09):
A result, it can drive the share price well above
the IPO price on day one.
Speaker 2 (04:13):
But jaziboy hot debut doesn't always mean long term outperformance.
Speaker 1 (04:16):
In fact, be man let's wine back to twenty twenty
one peak lockdowns, peak meme stocks, peak money printing.
Speaker 2 (04:22):
That year, a record three hundred and ninety seven companies
went public on the Nasdaq, but most.
Speaker 1 (04:26):
Of the class of twenty twenty one has performed very
badly in the aftermarket.
Speaker 2 (04:30):
Yep, only seventeen percent of these public companies and now
trading above their IPO offer prices, and.
Speaker 1 (04:35):
Since then private companies have become a little gun shy
to list on the public market.
Speaker 2 (04:40):
So e Toro could be a sign of positive IPOs
to come.
Speaker 1 (04:43):
For our third and final story. Airbnb now wants to
book your personal trainer, you spart a, and a celeb
experience because they want to expand outside of just holiday homes.
Speaker 2 (04:53):
From spare beds to spark treatments. What is going on here?
Speaker 1 (04:56):
Airbb was founded in two thousand and eight in San Francisco,
back when the my idea of sleeping in someone else's
place sounded a bit more like a horror film.
Speaker 2 (05:03):
But since then, Jessie Boy it has hosted over two
billion guest arrivals in.
Speaker 1 (05:07):
Runt of the mill apartments, but also some really wacky
properties like a yellow submarine, a windmill, a snow igloo.
Speaker 2 (05:14):
But listing properties online is so last decade.
Speaker 1 (05:17):
So now Airbbb's launched a redesigned app, so it's less
accommodation and more like the everything traveler.
Speaker 2 (05:23):
You can now order a spa tramp, book a personal trainer,
hire a chef through the app.
Speaker 1 (05:27):
Man. It ain't no coincidence that airbb is pushing deeper
into the experience of space.
Speaker 2 (05:32):
Yep, that's because it warned a couple of weeks ago
of slowing bookings in the US.
Speaker 1 (05:36):
Largely off the back of on again off again tariffs.
Speaker 2 (05:38):
So Josey Boy. The idea is that these new offerings
will appeal to travelers who want more unique and personalized holidays.
Speaker 1 (05:44):
And not just a place to sleep.
Speaker 2 (05:45):
All part of Airbnb's plan to grow its share of wallet.
So what is the key learning ears Share of wallet
refers to how much of a consumer's total spending in
a category goes to one company.
Speaker 1 (05:56):
When it comes to travel, your wallet gets sliced up
like a pizza.
Speaker 2 (06:00):
It's accommodation, food, activities, transport, and.
Speaker 1 (06:03):
Traditionally Airbnb only captured the accommodation.
Speaker 2 (06:06):
Slides, and in twenty sixteen, when it launched the first
version of Experiences, it began to tap into this and
it kept growing and growing.
Speaker 1 (06:12):
And so with the launch of the new Services feature
and growth of Airbnb Experiences, it's trying to win a
larger chunk of the holiday budget.
Speaker 2 (06:19):
The idea is that customers already trust Airbnb for accommodation,
so they'll be willing to spend more on other interesting
services too.
Speaker 1 (06:26):
And be man. Given Airbnb's net income fell nearly forty
two percent in the most recent quarter, it needs to
find some new growth channels, so.
Speaker 2 (06:33):
It's hoping that services and experiences might just be that.
Speaker 1 (06:37):
But Sam, if you're listening to the pod on your phone,
which you most likely are, make sure to jump into
your Flux app, turn your notifications on, and get ready
for that notification coming today to win fifty bucks could
be the greatest start of the weekend you've ever had.
It's all in our weekly game Quick Sticks, which drops today.
Speaker 2 (06:51):
Thanks for listening and we'll see you on Monday.
This is what the flux I'm brand, I'm justin And Friday,
the sixteenth of May, Josie Boy.
Speaker 2 (00:09):
Australia's unemployment rate held steady and four point one percent
for March. And this is the last key piece of
economic data before the RBA meets next Monday and Tuesday.
And Jessie Boy, despite all the uncertainty in the world,
all the big four banks here in Australia think that
we'll see a rate cut next week.
Speaker 1 (00:26):
Brusting my fingers and motto's fox dam. If you've been
listening to the pod this week, you are in the
prime position to win fifty bucks today. All you've got
to do is make sure you're competing in quick sticks
against the rest of the flux Dam three questions. If
you're the first to answer them all correctly, fifty bucks
is all yours. To make sure to download the Flux out,
turn your notifications on your chance to win today.
Speaker 2 (00:45):
Three pure stories today, Juzzy Boy, let's do it for
our first combank has seen its cash profit jump to
over two point six billion dollars for the quarter as
it pushes hard into business banking.
Speaker 1 (00:57):
Big Yellow getting the bag once again being answer telling
me all.
Speaker 2 (01:00):
So Commonwealth Bank is the Aussie bank with nearly sixteen
million customers.
Speaker 1 (01:03):
ZACBA man, it's not only Australia's largest bank, but also
the most valuable company on the ASX.
Speaker 2 (01:09):
So when Combank releases its quarterly results, everyone's ears prick up.
Speaker 1 (01:13):
And a man once again. Combank did not disappoint as
it announced a two point six billion dollar cash profit
for just the March quarter alone.
Speaker 2 (01:20):
Yeah, Combank could purchase nine entertainment, which is one quarter's
cash profit.
Speaker 1 (01:24):
Wow, and that's a six percent rise on the previous quarter.
Speaker 2 (01:27):
And while Combank typically dominates the home loan sector, it's
also been picking up in the business banking space too.
Speaker 1 (01:32):
Combank saw its business loans jump by more than nine percent,
which is a lot faster than the growth in other banks.
Speaker 2 (01:38):
But its secret source when it comes to continuing to
grow is also in the highly competitive and highly lucrative
home loan space.
Speaker 1 (01:44):
Yep. And while most banks lean on mortgage brokers, CBA
is focusing on growing its own home loan book through
its own channels.
Speaker 2 (01:51):
That'd be its own website, its own branches. So b man,
what is the key learning here? While mortgage broking brings
volume direct channels bring dem profits.
Speaker 1 (02:00):
Get this, be man. Mortgage brokers were responsible for nearly
seventy five percent of all new home loans in the
September twenty twenty four quarter.
Speaker 2 (02:07):
But Combank is bucking the trend and making a bank
while doing it.
Speaker 1 (02:10):
Yeah. Combank reported that sixty eight percent of its new
mortgages came through its own proprietary channels over the past quarter.
Speaker 2 (02:16):
And Jazi boy mortgages that come directly from proprietary channels
are much more profitable.
Speaker 1 (02:21):
In fact, broker originated loans are reported to be around
twenty to thirty percent less profitable according to Kombank's financial results.
Speaker 2 (02:27):
That's because of the upfront commissions and trail commissions given
to brokers on every loan written.
Speaker 1 (02:32):
So this strategic shift allows Combank to have greater control
over the customer experience.
Speaker 2 (02:37):
And potentially improve their profitability too.
Speaker 1 (02:39):
For our second story, e Toro, the shared trading platform,
has popped more than forty percent on its share market
debut after investors were scrambling to get a slice.
Speaker 2 (02:48):
So now investors are buying and selling e Toro stock
on the e Toro stock trading platform. Very meta, tell
me more?
Speaker 1 (02:54):
Okay, so e Toro is the Israeli trading and investment
platform that was founded in two thousand and seven and it.
Speaker 2 (03:00):
Has grown to over thirty eight million registered users around
the world.
Speaker 1 (03:03):
Largely off the back of its very heavy marketing.
Speaker 2 (03:06):
YEP it ran a heap of ads with Alec Baldwin,
as well as sponsoring five English Premier League clubs.
Speaker 1 (03:11):
Five Bundeslegger clubs in Germany and even Rugby Australia.
Speaker 2 (03:14):
But it's best known for letting its users trade and
follow others when it comes to their investments in stocks
and crypto and they man.
Speaker 1 (03:21):
On Wednesday, Etro listed on the Nasdaq and it shares
absolutely pop YEP.
Speaker 2 (03:25):
Its shares were priced at fifty two bucks but jumped
to over seventy four bucks at one point, which.
Speaker 1 (03:30):
Was a forty two percent gain in the same day.
Speaker 2 (03:32):
And duzzy boy, that's because the IPO was oversubscribed by
more than twenty times.
Speaker 1 (03:36):
That's like throwing a party for fifty people and having
one thousand people trying to squeeze in.
Speaker 2 (03:40):
And e Toro's debut was a very good sign for
the potential of other companies looking to IPO in the
not too distant future.
Speaker 1 (03:47):
So what is the key learning here?
Speaker 2 (03:48):
A key signal of IPO success is over subscription.
Speaker 1 (03:52):
That's when demand for shares exceeds the number of shares
that are offered.
Speaker 2 (03:55):
In e Toro's case, the demand was so high that
they increased the number of shares offered from ten million
to nearly twelve million shares.
Speaker 1 (04:02):
And despite that, the demand was reportedly still twenty times that.
Speaker 2 (04:05):
The good thing for etro is that over subscription can
create high and as.
Speaker 1 (04:09):
A result, it can drive the share price well above
the IPO price on day one.
Speaker 2 (04:13):
But jaziboy hot debut doesn't always mean long term outperformance.
Speaker 1 (04:16):
In fact, be man let's wine back to twenty twenty
one peak lockdowns, peak meme stocks, peak money printing.
Speaker 2 (04:22):
That year, a record three hundred and ninety seven companies
went public on the Nasdaq, but most.
Speaker 1 (04:26):
Of the class of twenty twenty one has performed very
badly in the aftermarket.
Speaker 2 (04:30):
Yep, only seventeen percent of these public companies and now
trading above their IPO offer prices, and.
Speaker 1 (04:35):
Since then private companies have become a little gun shy
to list on the public market.
Speaker 2 (04:40):
So e Toro could be a sign of positive IPOs
to come.
Speaker 1 (04:43):
For our third and final story. Airbnb now wants to
book your personal trainer, you spart a, and a celeb
experience because they want to expand outside of just holiday homes.
Speaker 2 (04:53):
From spare beds to spark treatments. What is going on here?
Speaker 1 (04:56):
Airbb was founded in two thousand and eight in San Francisco,
back when the my idea of sleeping in someone else's
place sounded a bit more like a horror film.
Speaker 2 (05:03):
But since then, Jessie Boy it has hosted over two
billion guest arrivals in.
Speaker 1 (05:07):
Runt of the mill apartments, but also some really wacky
properties like a yellow submarine, a windmill, a snow igloo.
Speaker 2 (05:14):
But listing properties online is so last decade.
Speaker 1 (05:17):
So now Airbbb's launched a redesigned app, so it's less
accommodation and more like the everything traveler.
Speaker 2 (05:23):
You can now order a spa tramp, book a personal trainer,
hire a chef through the app.
Speaker 1 (05:27):
Man. It ain't no coincidence that airbb is pushing deeper
into the experience of space.
Speaker 2 (05:32):
Yep, that's because it warned a couple of weeks ago
of slowing bookings in the US.
Speaker 1 (05:36):
Largely off the back of on again off again tariffs.
Speaker 2 (05:38):
So Josey Boy. The idea is that these new offerings
will appeal to travelers who want more unique and personalized holidays.
Speaker 1 (05:44):
And not just a place to sleep.
Speaker 2 (05:45):
All part of Airbnb's plan to grow its share of wallet.
So what is the key learning ears Share of wallet
refers to how much of a consumer's total spending in
a category goes to one company.
Speaker 1 (05:56):
When it comes to travel, your wallet gets sliced up
like a pizza.
Speaker 2 (06:00):
It's accommodation, food, activities, transport, and.
Speaker 1 (06:03):
Traditionally Airbnb only captured the accommodation.
Speaker 2 (06:06):
Slides, and in twenty sixteen, when it launched the first
version of Experiences, it began to tap into this and
it kept growing and growing.
Speaker 1 (06:12):
And so with the launch of the new Services feature
and growth of Airbnb Experiences, it's trying to win a
larger chunk of the holiday budget.
Speaker 2 (06:19):
The idea is that customers already trust Airbnb for accommodation,
so they'll be willing to spend more on other interesting
services too.
Speaker 1 (06:26):
And be man. Given Airbnb's net income fell nearly forty
two percent in the most recent quarter, it needs to
find some new growth channels, so.
Speaker 2 (06:33):
It's hoping that services and experiences might just be that.
Speaker 1 (06:37):
But Sam, if you're listening to the pod on your phone,
which you most likely are, make sure to jump into
your Flux app, turn your notifications on, and get ready
for that notification coming today to win fifty bucks could
be the greatest start of the weekend you've ever had.
It's all in our weekly game Quick Sticks, which drops today.
Speaker 2 (06:51):
Thanks for listening and we'll see you on Monday.
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