Pack your bags, earnings take an OE ✈️

Summer may have been a bummer for some, but with borders open and an extended working visa program with the UK and a Rugby World Cup in France to look forward to, travel’s on our minds. No wonder so very many of our amazing friends and colleagues are lining up for tickets to warmer shores. ☀️

If the surging demand for language learning app Duolingo (DUOL) is anything to go by, it’s not just Kiwis preparing for a chat in another mother tongue. Duolingo says paid subscribers grew 67% in the fourth quarter of 2022. Combined with a positive outlook for the year ahead, the company’s share price has rallied 90% so far in 2023. Oui Oui! 🥐

You’ll need to know a few languages to tick carmaker Polestar (PSNY – ADR) off your OE bucket list. Although headquartered in Sweden, Polstar has its R&D facility in the UK and manufactures vehicles in both China and the US. 🌏 This month the company announced that deliveries in the first quarter grew nearly 26% and they expect global volumes to increase by 60% by 2023.

Packing light for an OE is never easy, but the 13 apology bags Delta Air Lines (DAL) sent to one bemused customer seems a bit like excess baggage. 🧳 US airlines can be notoriously seasonal when it comes to earnings, generally making most of their revenue during the busy Northern Hemisphere summer season. Last week Delta announced a loss for their March quarter earnings. The airline and refinery company has painted a rosier picture for the second quarter, however, where they expect to fly out of headwinds back into profitability. ✈️

Saying ‘bon voyage’ to those jetting off on OE adventures is never easy. 🥺 But hey, at least we can look forward to hearing all about their newfound appreciation for Manchester United (MANU), low cost airlines like Ryanair (RYAAY – ADR) and of course nostalgic love for the classic Kiwi summer as they rug up in an alternate hemisphere. 😛