- As we deal with the first ever pandemic caused by a coronavirus, WHO affirms that there were 15.29 million confirmed COVID-19 cases, 628k deaths in 216 countries as on 24 July 2020
- Owing to COVID-19 lockdowns and restrictions, businesses remain exposed to several risks- disruption of global supply chains, significant loss of revenue, manufacturing delays, shortage of manpower
- Need-of-the-hour product and service offerings, strong management, resilient business plans, grabbing opportunities backed by strong fundamentals-owing to these, few companies seem to have emerged winners out of the COVID-19 war
- Significant action and reform are likely in the business world in the remainder of 2020, as businesses switch to contemporary modes of survival to prosper in the new normal
In his recent media briefing, WHO Director-General Tedros Adhanom Ghebreyesus stated that-
As the business world witnesses changes never fathomed before, the first thought every business enthusiast would be waking up to these days (besides hoping that the world finally has a vaccine for COVID-19!), seems to be the question- As businesses prepare to compete in the ‘new normal’, who will emerge stronger? Though amidst the gloom not everything is lost, in fact few businesses have come out stronger.
British business magnate Richard Branson once said-
COVID-19 business instability has pretty much proved this right because in the dark year for most businesses, a handful have excelled. For instance, Pharma companies have drawn global attention as they embark on a journey to generate the elixir the world awaits in the form of a vaccine. Tech companies have shone owing to accelerated trend towards digitalisation and work from home policies whereas retailers have propelled as they work constantly to meet basic consumer demands.
To know about some of the best American and Chinese companies that have truly prospered during times of pandemic, PLEASE READ: Revealed! Four Strong Companies from the Biggest Economies Amid COVID-19
Let us look at few companies from across the world that seem to be ruling the business sphere amid the novel coronavirus crisis:
- US-based technology company, shift to cloud has been a boon in work from home environment
- Stock has rallied sharply off the March lows and is up ~ 29% in 2020
The tech giant has found itself in a position of strength as COVID-19 continues to sweep across the globe. The Company has possibly been one of the biggest beneficiaries of the work and learn from home culture. In particular, its Teams communication app has garnered major traction off late with close to 75 million users recorded in a single day in April, dramatically up from 20 million in late 2019. In the same month, Xbox Live gaming service reportedly hit a record 90 million players.
At the corporate end, the Company topped earnings estimates for the fiscal fourth quarter results wherein it registered a record quarterly revenue of USD 38 billion.
- Canada-based leading global commerce company, second to Amazon in the space
- Stock has a market cap of USD 109 billion currently and has witnessed good run in the past couple of years, handing investors ~745% gain
Evidently, online shopping has grown more in the past few months than it did during the last decade, owing to shift in consumer behavior due to COVID-19. Perhaps one of most important internet companies of today’s contemporary world, Shopify is a “one-stop shop” for anyone wanting to sell online. Amid lockdowns, New stores created on Shopify’s platform surged 62%.
So much so, a Forbes report reveals that stores with a presence on Shopify recouped 94% of lost in-person sales with online orders. Moreover, Shopify was perhaps the only factor that saved several mom-and-pops from going belly up amid recent lockdowns.
In 1Q20, revenue was up 47% on a y-o-y basis at USD 470 million. The Company is due to announce its financial results for 2Q20 on 29 July 2020.
- South-Korea based biopharma company specializing in global marketing, distribution, sales of biologic products including biosimilars.
- Shares up by almost 60% in this year
The Company recently announced the launch of its Phase I human clinical trial investigating a potential antiviral antibody treatment for COVID-19 patients which has been proven to be effective in neutralizing different kinds of coronavirus related strain. Previously, the Company had affirmed that its antiviral antibody treatment is effective in neutralizing the mutated G-variant strain, associated to increased viral transmission and widespread of COVID-19.
What’s keeping the market’s interest on the Company is the fact that Celltrion remains positive of achieving promising preliminary results from pivotal studies in mild and moderate COVID-19 patients by the end of the year.
Atlassian Corporation Plc
- Australia-based enterprise software MNC that develops products for software development, project management, content management.
- Produced average annual EPS growth of more than 52% the last 3 years
Atlassian is known to develop tools that support people in collaborating and remaining productive while working remotely. Consequently, amid the pandemic, the Company has leveraged from people working remotely. The Company is also offering few products for free amid the crisis to increase market share and boost its revenues.
In 3Q20 the total revenue stood at USD 411.6 million, up 33 % on pcp. During the period, the Company added 6,261 net new customers. The Company is due to release its 4Q20 results on 30 July and anticipates total revenue to be in the range of USD 400 million to USD 415 million.
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