Sino Biopharmaceutical Stock (OTC: SBHMY)

Latest news for Sino Biopharmaceutical (OTC:SBHMY) Stock

Sino Biopharmaceutical

Listed on the Hong Kong Stock Exchange in 2000, Sino Biopharmaceutical is one of the largest Chinese drugmakers. It started with generic drug manufacturing. Since 2018, Sino Biopharm has been actively pivoting into an innovative drugmaker after the Chinese government launched its volume-based procurement policy for the healthcare industry. As of 2023, 37.8% of the firm's total revenue comes from five innovative drugs and five biosimilar drugs. Sino Biopharm's biggest revenue segment is oncology medicines, accounting for 33.6% of total revenue, followed by hepatitis, surgery/analgesia, respiratory, and cardio-cerebral vascular therapeutic areas.

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Avadel Pharmaceuticals plc - American Depositary Shares each representing one Ordinary Share

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Stocks That Hit 52-Week Highs On Friday

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SINO BIOPHARM UNSP/ADR by Sino Biopharmaceutical Ltd.

Sino Biopharmaceutical Ltd

HCA Healthcare, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCA#NYSE">HCA</a>) will release earnings results for its fourth quarter, before the <a href="https://www.benzinga.com/quote/HCA/earnings">opening bell on Friday, Jan. 24, 2025.</a>
Analysts expect the Nashville, Tennessee-based company to report quarterly earnings at $6.14 per share, up from $5.9 per share in the year-ago period. HCA Healthcare projects to report revenue of $18.23 billion for the recent quarter, compared to $17.3 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On Dec. 20, 2024, HCA Healthcare named Wendy Warren as Senior Vice President and Chief Ethics and Compliance Officer.
HCA Healthcare shares gained 1.8% to close at $325.36 on Thursday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/hca/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Truist Securities analyst David Macdonald maintained a Buy rating and cut the price target from $430 to $390 on Jan. 6, 2025. This analyst has an accuracy rate of 65%.</li>
<li>Raymond James analyst John Ransom downgraded the stock from Outperform to Market Perform on Nov. 22, 2024. This analyst has an accuracy rate of 75%.</li>
<li>Keybanc analyst Matthew Gillmor maintained an Overweight rating and cut the price target from $475 to $420 on Oct. 28, 2024. This analyst has an accuracy rate of 66%.</li>
<li>Oppenheimer analyst Michael Wiederhorn maintained an Outperform rating and raised the price target from $390 to $400 on Oct. 28, 2024. This analyst has an accuracy rate of 63%.</li>
<li>Deutsche Bank analyst Pito Chickering maintained a Buy rating and raised the price target from $359 to $375 on June 28, 2024. This analyst has an accuracy rate of 66%.</li>
</ul>
Considering buying HCA stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="575" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/24024655/image-177-1024x575.png" alt="" class="wp-image-748199" style="width:574px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/24024655/image-177-1024x575.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/24024655/image-177-300x168.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/24024655/image-177-768x431.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/24024655/image-177.png 1117w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/25/01/43158901/jim-cramer-says-this-tech-stock-is-speculative-but-he-likes-it">Jim Cramer Says This Tech Stock Is Speculative But He Likes It</a></li>
</ul>

Earnings

Price Target

Pre-Market Outlook

Analyst Ratings

HCA Healthcare Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

A dividend for 2024 of SEK 2.85 (2.70) per share will be proposed to the AGM by the Board of Directors.&nbsp;

Dividends

ERIC

Ericsson Board Will Propose A 2024 Dividend Per Share Of SEK 2.85 (up from SEK 2.70 YoY)

American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) will release its fourth-quarter financial results, before the <a href="https://www.benzinga.com/quote/AXP/earnings">opening bell, on Friday, Jan. 24, 2025.</a>
Analysts expect the New York-based company to report quarterly earnings at $3.03 per share, up from $2.62 per share in the year-ago period. American Express projects quarterly revenue of $17.18 billion, compared to $15.8 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
The company has topped earnings expectations in each of the first three quarters of 2024.
American Express shares gained 1.1% to close at $325.87 on Thursday&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; .
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/AXP/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>JP Morgan analyst Richard Shane maintained a Neutral rating and raised the price target from $301 to $307 on Jan. 14, 2025. This analyst has an accuracy rate of 68%.</li>
<li>UBS analyst Eric Wasserstrom maintained a Neutral rating and raised the price target from $283 to $320 on Jan. 13, 2025. This analyst has an accuracy rate of 74%.</li>
<li>Truist Securities analyst Brian Foran initiated coverage on the stock with a Buy rating and a price target of $350 on Jan. 7, 2025. This analyst has an accuracy rate of 65%.</li>
<li>Wells Fargo analyst Donald Fandetti maintained an Overweight rating and raised the price target from $300 to $340 on Jan. 3, 2025. This analyst has an accuracy rate of 72%.</li>
<li>Compass Point analyst David Rochester maintained a Neutral rating and raised the price target from $315 to $325 on Dec. 19, 2024. This analyst has an accuracy rate of 69%.</li>
</ul>
Considering buying AXP stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="567" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/24023513/image-176-1024x567.png" alt="" class="wp-image-748185" style="width:548px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/24023513/image-176-1024x567.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/24023513/image-176-300x166.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/24023513/image-176-768x425.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/24023513/image-176.png 1133w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read This Next: 
<ul>
<li><a href="https://www.benzinga.com/25/01/43158901/jim-cramer-says-this-tech-stock-is-speculative-but-he-likes-it">Jim Cramer Says This Tech Stock Is Speculative But He Likes It</a></li>
</ul>

American Express Gears Up For Q4 Print; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

<ul>
<li>All-cash offer of $1.67 per share representing a 58% premium to O3 Mining's closing price on December 11, 2024</li>
<li>Agnico Eagle has satisfied the minimum tender condition and has taken-up and acquired 94.1% of the outstanding O3 Mining shares</li>
<li>Shareholders who have not already tendered should do so as soon as possible to take advantage of the significant offer as their brokers, banks or other intermediaries likely have tendering cut-off times well in advance of the expiry time of 11:59 p.m. (EST) on February 3, 2025</li>
</ul>

Agnico Eagle Acquires 94.1% Of O3 Mining Shares With $1.67 All-Cash Offer, Extends Deadline To February 3, 2025

Investar Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISTR#NASDAQ">ISTR</a>) reported quarterly earnings of $0.65 per share which beat the analyst consensus estimate of $0.39 by 66.67 percent. This is a 66.67 percent increase over earnings of $0.39 per share from the same period last year. The company reported quarterly sales of $22.646 million which beat the analyst consensus estimate of $20.600 million by 9.93 percent. This is a 11.85 percent increase over sales of $20.246 million the same period last year.

Earnings Beats

ISTR

Investar Holding Q4 2024 Adj. EPS $0.65 Beats $0.39 Estimate, Sales $22.646M Beat $20.600M Estimate

The ADSs are expected to begin trading on the Nasdaq Global Market on January 24, 2025, under the ticker "AAPGV" on a "when-issued" basis, and on January 27, 2025, under the ticker symbol "AAPG" for "regular-way" trading. The offering is expected to close on January 28, 2025, subject to customary closing conditions.

IPOs

AAPG

Reported Earlier, Ascentage Pharma Prices $126.4M U.S. Initial Public Offering Of 7,325,000 American Depositary Shares At $17.25/ADS

PROV

Reported Earlier, Provident Financial Authorizes New Stock Repurchase Plan For Up To 5% of Outstanding Shares, Effective January 24, 2025

Reported Earlier, Prudential Financial And Dai-Ichi Life Establish A Strategic Partnership, Enhancing Life Insurance Distribution And PGIM Asset Management Reach

With U.S. stock futures trading slightly lower this morning on Friday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects American Express Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>) to report quarterly earnings at $3.04 per share on revenue of $17.16 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. American Express shares gained 0.3% to $326.99 in after-hours trading.</li>
<li>Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) reported preliminary fourth-quarter financial results after the closing bell on Thursday. The company announced that it will recognize impacts to its quarterly results related to the IAM work stoppage and agreement, charges for certain Defense, Space &amp; Security programs, and costs associated with workforce reductions from last year. As a result, the airplane manufacturer now expects to report fourth-quarter revenue of $15.2 billion versus estimates of $16.27 billion, according to Benzinga Pro. Boeing also anticipates a fourth-quarter loss of $5.46 per share. Boeing shares fell 1.8% to $175.25 in the after-hours trading session.</li>
<li>Analysts expect Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) to post quarterly earnings at $1.10 per share on revenue of $35.32 billion. The company will release earnings before the markets open. Verizon shares gained 0.3% to $39.30 in after-hours trading.</li>
</ul>
Check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<ul>
<li>Intuitive Surgical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>) reported better-than-expected earnings and sales results for the fourth quarter after the market closed on Thursday. The company said it expects full-year 2025 worldwide da Vinci procedures to increase approximately 13% to 16%. Intuitive Surgical shares fell 2.2% to $595.00 in the after-hours trading session.</li>
<li>Analysts expect HCA Healthcare Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HCA#NYSE">HCA</a>) to post quarterly earnings at $6.13 per share on revenue of $18.23 billion before the opening bell. HCA Healthcare shares gained 1.9% to $331.40 in after-hours trading.</li>
</ul>
Check This Out: 
<ul>
<li><a href="https://www.benzinga.com/25/01/43158901/jim-cramer-says-this-tech-stock-is-speculative-but-he-likes-it">Jim Cramer Says This Tech Stock Is Speculative But He Likes It</a></li>
</ul>
Photo courtesy: Shutterstock

ISRG

Verizon, Boeing And 3 Stocks To Watch Heading Into Friday

For 2025, in Networks we will continue to benefit from our product leadership position, with the best performance and energy efficiency in the industry. In Enterprise, our priority remains stabilizing the commercial performance in the current portfolio and driving growth in areas such as mission critical and enterprise private networks. Our commitment remains to put high-performing, programmable and differentiated networks at the center of the digitalization of enterprise and society."

Guidance

LM Ericsson Q1 2025 Outlook: Sales Growth To Align With 3-Year Average Seasonality, Adjusted Gross Margin Expected At 47%-49%; Says Elevated Restructuring Charges Anticipated For Full Year

Telefonaktiebolaget L M (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ERIC#NASDAQ">ERIC</a>) reported quarterly earnings of $0.13 per share which missed the analyst consensus estimate of $0.19 by 29.47 percent. The company reported quarterly sales of $6.768 billion which missed the analyst consensus estimate of $6.927 billion by 2.30 percent. This is a 0.25 percent increase over sales of $6.751 billion the same period last year.

Earnings Misses

Telefonaktiebolaget L M Q4 2024 GAAP EPS $0.13 Misses $0.19 Estimate, Sales $6.768B Miss $6.927B Estimate

The Notes will bear cash interest semi-annually at a rate of 2.75% per annum. The initial conversion rate for the Notes will be 315.2088 common shares of B2Gold ("Shares") per US$1,000 principal amount of Notes, equivalent to an initial conversion price of approximately US$3.17 per Share. The initial conversion rate represents a premium of approximately 35% relative to today's closing sale price of the Shares and is subject to adjustment in certain events

Reported Earlier, B2Gold Prices Upsized $400M Offering Of Convertible Senior With 2.75% Interest And $3.17 Conversion Price

Chevron's 50% Stake In Tengiz Future Growth Project Yields First Oil, Setting Stage For Increased Free Cash Flow

According to <a href="https://www.benzinga.com/markets/25/01/43138120/why-goldman-sachs-analysts-see-risk-of-a-massive-30-correction-in-the-stock-market-in-2025">Goldman Sachs</a> Global Investment Research, the U.S. stock market falls in both instances, when it announces tariffs and when other countries announce retaliatory tariffs.
What Happened: Economist Justin Wolfers, who is a professor at the University of Michigan, in an X post, highlighted Goldman&#8217;s research and pointed out that tariffs could be detrimental to the markets in the short term.
Wolfers, who is also a senior fellow at the Brookings Institution and Peterson Institute, said, &#8220;We lose when we punch and we lose when we&#8217;re punched.&#8221;
According to the Goldman graph shared by Wolfers, the S&amp;P 500 fell 5% on the days when the U.S. announced tariffs and 7% on days when other countries announced retaliatory tariffs. However, these moves partially reversed, later in the week.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The U.S. stockmarket falls both when: 1. The U.S. announces new tariffs (dark blue bars) 2. Other countries announce retaliatory tariffs (light blue and gray bars) We lose when we punch and we lose when we&#39;re punched. (Source: Goldman) <a href="https://t.co/nGKuSE5P7P">pic.twitter.com/nGKuSE5P7P</a>
&mdash; Justin Wolfers (@JustinWolfers) <a href="https://twitter.com/JustinWolfers/status/1882562964303020312?ref_src=twsrc%5Etfw">January 23, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also: <a href="https://www.benzinga.com/general/market-summary/25/01/43157322/pltr-stock-is-up-166-in-last-6-months-now-dan-ives-sees-room-for-17-more-growth-our-recent-checks-and-growing-confidenceis-key-to-the-bull-thesis">PLTR Stock Is Up 166% In Last 6 Months. Now Dan Ives Sees Room For 17% More Growth: &#8216;Our Recent Checks And Growing Confidence…Is Key To The Bull Thesis&#8217; </a>
Why It Matters: President Donald Trump was sworn in earlier this week on Monday, and participated remotely in the <a href="https://www.benzinga.com/news/global/25/01/43170854/trump-outlines-economic-reset-at-davos-5-things-you-need-to-know">World Economic Forum in Davos</a>, Switzerland, on Thursday. In his speech, he reaffirmed his threat to impose tariffs to encourage domestic manufacturing, sending a clear warning to European business leaders.
"If you don't make your product in America, which is your prerogative, then, very simply, you will have to pay a tariff, differing amounts, but a tariff which will direct hundreds of billions of dollars, and even trillions of dollars into our treasury,&#8221; he said.
Trump has hinted at a 10% tariff on all Chinese imports, effective Feb. 1, in response to China sending fentanyl to Canada and Mexico. &#8220;Frankly, I suspect that China is relieved that the tariff is only 10% since up to 100% tariffs had been threatened previously,&#8221; said Louis Navellier of Navellier &amp; Associates.
&#8220;A 10% tariff on Chinese goods is not expected to be inflationary since the U.S. dollar is so strong compared to the Chinese yuan. Obviously, President Trump is serious about eliminating fentanyl and the pressure has been turned up on China, Canada, and Mexico,&#8221; he added.
Ed Yardeni and Eric Wallerstein, in their weekly economic note, highlighted that increased tariffs could lead to higher prices for American consumers. They expect the dollar to strengthen on higher tariffs which will lead to lower revenues for foreign exporters in their local currency. However, &#8220;If tariffs lead to expanded capacity in the U.S., that could be disinflationary,&#8221; the note added.
Price Action: As the Trump administration&#8217;s new policies take root, the market has been resilient over the last six months and the year. The SPDR S&amp;P 500 ETF Trust tracking the S&amp;P 500 has gained 25.62% over a year, whereas the SPDR Dow Jones Industrial Average ETF Trust tracking the Dow Jones advanced 17.80% in the same period.
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<tbody>
<tr>
<td>Index/ETF</td>
<td>Six Months</td>
<td>One Year</td>
</tr>
<tr>
<td>SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>)</td>
<td>12.66%</td>
<td>25.62%</td>
</tr>
<tr>
<td>Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>)</td>
<td>14.95%</td>
<td>25.08%</td>
</tr>
<tr>
<td>SPDR Dow Jones Industrial Average ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)</td>
<td>11.72%</td>
<td>17.80%</td>
</tr>
<tr>
<td>iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>)</td>
<td>5.27%</td>
<td>17.99%</td>
</tr>
</tbody>
</table>
</figure>
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/01/43152718/tesla-to-have-a-choppy-first-half-owing-to-new-ev-policies-deliveries-and-margins-however-this-analyst-expect-over-20-upside-from-current-level-with-a-500-target-price">Tesla Set For A &#8216;Choppy&#8217; First Half Amid New EV Policies, But This Analyst Sees 20% Upside For Elon Musk&#8217;s EV Company With A $500 Price Target</a></li>
</ul>

Analyst Color

Equities

Market Summary

Broad U.S. Equity ETFs

Emerging Markets

ETFs

SPDR Dow Jones Industrial Average ETF Trust

Trump Tariffs A Lose-Lose Proposition?  Goldman Research Indicates Markets Fall After Imposition And Retaliation — Economist Warns 'We Lose When We Punch And We Lose When We're Punched'

EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) has launched its refreshed Model Y in the U.S., with the long-range all-wheel drive variant priced at $59,990.
What Happened: Tesla&#8217;s website lists the new Model Y and existing variants. Only the refreshed vehicle&#8217;s Long Range All Wheel Drive Variant is currently shown on the website.
The website says that deliveries of the new vehicle will start in March. 
The old long-range all-wheel drive variant of Model Y was priced at just $47,990, implying the refreshed vehicle is roughly 25% more expensive.
However, the new vehicle includes the Tesla full self-driving feature, unlike in the case of its predecessor, which was an optional add-on priced at another $8,000.
The company has also launched the refreshed Model Y in Canada, with the new Model Y Long Range All-Wheel Drive priced C$20,000 higher than its predecessor.
Why It Matters: Tesla launched the <a href="https://www.benzinga.com/tech/25/01/42905406/tesla-launches-refreshed-model-y-in-china-amid-rising-competition">refreshed Model Y in China</a> earlier this month with its base variant priced at 263,500 yuan or 5.4% pricier than its older version. 
The refreshed vehicle features changes to both its exterior and interior as compared to its forerunner. 
Model Y, launched in 2020, is Tesla&#8217;s best-selling vehicle. The launch of the refreshed vehicle comes after the company reported its first decline in annual global deliveries in over a decade.
Tesla reported global&nbsp;<a href="https://www.benzinga.com/trading-ideas/movers/25/01/42766117/tesla-stock-tumbles-on-q4-deliveries-whats-going-on" target="_blank" rel="noreferrer noopener">deliveries of 1.79 million</a>&nbsp;vehicles in 2024, down from full-year deliveries of 1.81 million in 2023.
Check out more of Benzinga&#8217;s Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/tech/25/01/43155064/polestar-ceo-looks-to-attract-tesla-customers-disenchanted-by-elon-musks-politics-somebody-outside-of-germany-endorsing-right-wing-politicial-parties-totally-unacceptable">Polestar CEO Looks To Attract Tesla Customers Disenchanted By Elon Musk&#8217;s Politics: &#8216;Somebody Outside Of Germany Endorsing Right-Wing Politicial Parties&#8230; Totally Unacceptable&#8217;</a></li>
</ul>
Photo courtesy: Tesla

Tech

TSLA

Tesla Launches Refreshed Model Y In US With 25% Price Hike, Full Self-Driving Included

Tim Sweeney, CEO of Epic Games, has reaffirmed his commitment to the ongoing legal battle against Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and Alphabet Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google. He is prepared to extend this fight for decades if necessary.
What Happened: Epic Games, backed by Tencent Holdings (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) has been embroiled in a long-running legal fight with Apple and Google over their app store practices, which Epic argues are monopolistic.
While Epic continues to rake in billions from Fortnite and its Unreal Engine business, Sweeney indicated that his company could face financial struggles as the battle drags on.
See Also: <a href="https://www.benzinga.com/news/24/10/41220186/google-will-continue-to-fight-epic-games-in-court-to-halt-epic-requested-changes-to-play-store-under">Google Will Continue To Fight Epic Games In Court To Halt Epic-Requested Changes To Play Store: &#8216;Undercut Android&#8217;s Ability To Compete With Apple&#8217;s iOS&#8217;</a>
Sweeney said, "Yeah, I think we might run into serious financial problems after a couple more decades of this. But we&#8217;re determined to fight this out," according to an IGN <a href="https://in.ign.com/fortnite/223252/news/tim-sweeney-says-epic-can-afford-to-keep-spending-billions-fighting-apple-and-google-for-the-future">report</a>.
"I expect large parts of this struggle will go on throughout the rest of this decade and we&#8217;re fully committed to going through it and investing to break through," he added.
In September 2023, Epic Games announced a major workforce reduction, laying off approximately 830 employees, which accounted for about 16% of its total staff.&nbsp;
Sweeney previously stated that Epic had been &#8220;spending way more money than we earn,&#8221; referring to the need for a &#8220;major structural change to our economics.&#8221;
Despite these challenges, Sweeney <a href="https://www.benzinga.com/general/gaming/24/10/41151404/epic-games-is-now-financially-sound-says-ceo-tim-sweeney-after-major-layoffs">declared the company</a> &#8220;financially sound&#8221; during a presentation at Unreal Fest 2024.&nbsp;
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: On Thursday, the company also launched third-party games on the Epic Games Store on mobile, with a more favorable revenue-sharing model: Epic keeps 12% of the revenue from payments it processes, and 0% from third-party payments.
As part of this new initiative, nearly 20 third-party games are now available on the Epic Games Store on mobile, with 19 games on Android globally and 16 games on iOS in the EU.
Epic is also offering free games as part of a new program, including Bloons TD 6 and Dungeon of the Endless: Apogee, free to download until Feb. 20. New free games will be offered each month, with the plan to move to a weekly schedule later this year.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The wait is over! Nearly 20 new games, fresh features and our Free Game program are now live in the Epic Games Store on mobile &#x1f929; Grab Dungeon of the Endless: Apogee for FREE through February 20. More info: <a href="https://t.co/UlNwQ8CEEI">https://t.co/UlNwQ8CEEI</a> <a href="https://t.co/2hpNNefHex">pic.twitter.com/2hpNNefHex</a>
&mdash; Epic Games Store (@EpicGames) <a href="https://twitter.com/EpicGames/status/1882630268336660864?ref_src=twsrc%5Etfw">January 24, 2025</a></blockquote>
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Photo courtesy: Shutterstock
Check out more of Benzinga's Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.

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Epic Games CEO Tim Sweeney Prepared To Spend Billions For Decades Fighting Apple, Google Monopolies: 'We Think Our Best Days Are Ahead'

Ross Ulbricht, the creator of the illegal drug marketplace Silk Road, expressed gratitude on Thursday after being pardoned by President Donald Trump.
What happened: In his first public statement after being granted a full and unconditional pardon, Ulbricht called Trump "a man of his word."
"Thank you so much, President Trump, for giving me this amazing blessing," Ulbricht said in a video posted via his X account. "I am so, so grateful to have my life back, to have my future back, to have this second chance."
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&mdash; Ross Ulbricht (@RealRossU) <a href="https://twitter.com/RealRossU/status/1882609887878029519?ref_src=twsrc%5Etfw">January 24, 2025</a></blockquote>
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See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43151588/cathie-wood-was-asked-if-she-would-buy-trump-coin-heres-what-she-said">Cathie Wood Was Asked If She Would Buy TRUMP Coin, Here&#8217;s What She Said</a>
Ulbricht, who was serving a double life sentence since 2013 for creating the darknet website, said this is an important moment for those who value freedom and believe in second chances.
On a curious note, Ulbricht stated that "there's a lot to talk about" and that he would start engaging with the free world soon.
Interestingly, wallets tied to Ulbricht <a href="https://www.benzinga.com/25/01/43150266/unclaimed-bitcoin-worth-44-million-found-in-ross-ulbrichts-wallets-but-doubts-about-the-silk-road-founders-access-to-keys">still contain 430 BTC</a>, worth more than $45 million, fueling speculation about their on-chain moves now that he is free.
Why It Matters: Earlier this week, Trump <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43118234/president-trump-signs-executive-order-to-pardon-silk-road-creator-ross-ulbricht">fulfilled his campaign promise</a> by signing an executive order to liberate Ulbricht in honor of the Libertarian Movement.
The Silk Road website was a hub of the illegal trafficking of heroin, cocaine, LSD, and other substances, all paid for in Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>). It is estimated that the platform facilitated $1 billion worth of illicit transactions in the apex cryptocurrency.
Despite the nature of the crimes, Ulbricht was viewed as a champion of libertarian values, with his supporters <a href="https://lp.org/libertarian-party-calls-for-pardoning-of-ross-ulbricht/">criticizing </a>the government for regulating the internet and tightening civil freedoms.
Price Action: At the time of writing, Bitcoin was exchanging hands at $104,930 up 2.78% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>. 
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Trump A Man Of His Word, Says Ross Ulbricht After Pardon — Silk Road Creator's 'Lots To Talk About' Remark Fuels Curiosity

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Reported Earlier, au Jibun Bank Japan Services Purchasing Managers' Index Preliminary For January 52.7 Vs. 50.9 Prior

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