European Luxury brand LVMH announces earnings and sees a slowdown in US sales.Asia strong.

<p>The European luxury brand company LVMH, reported Q2 2023 earnings with revenues of 21.21 billion Euros, surpassing the expected 20.6 billion Euros. However, sales in the U.S. fell by 1%. The company stated that it doesn't anticipate further price increases in the near term. Despite the drop in U.S. sales, LVMH expressed satisfaction with its Q2 performance in China.</p><p>Geographically, sales in Japan increased by 29%, in Asia-excluding Japan by 34%, and in Europe by 19% (vs 24% in Q1). But there was a reduction compared to previous rates.</p><p>By segment, the Fashion &amp; Leather department saw an increase of 21%, slightly higher than expected(20.8%). Perfumes &amp; Cosmetics, Watches &amp; Jewelry, and Selective Distribution segments also saw growth, with increases of 16%, 14%, and 25% respectively. However, Wines &amp; Spirits underperformed with a decrease of 8%, against an expected decrease of only 0.7%.</p><p>Shares of LVMH are up 25.6% this year. Looking at the daily chart above, the price is currently trading above the 100-day MA at 845.70. The all-time high reached $904.60 back in early April. A move below would increase the bearish bias.</p><p>After the close in the US, Microsoft and Alphabet will announce earnings along with Visa, and Texas Instruments.</p><p>Microsoft:</p><ul><li>Expected Q4 EPS: $2.55 up 14.3% YoY from $2.23.</li><li>Expected Q4 Revenue: $55.48 billion up 7% YoY.</li><li>Previous quarter performance: surpassed both EPS and revenue expectations.</li><li>Comments: Best quarter anticipated in Microsoft's 48-year history, with strength attributed to the cloud business and AI initiatives.</li></ul><p>Alphabet:</p><ul><li>Expected Q2 EPS: $1.34 up 10.7% YoY from $1.21.</li><li>Expected Q2 Revenue: $72.66 billion up 4% YoY.</li><li>Previous quarter performance: revenue and earnings topped estimates after four straight quarters of missing expectations.</li><li>Comments: Benefits from ongoing cost-cutting measures contributing to EPS growth.</li></ul>

This article was written by Greg Michalowski at www.forexlive.com.