Upstart achieved an all-time high in its automated credit origination process in the fourth quarter. The artificial intelligence (AI) lending marketplace had 89% of its unsecured loans approved through an instant and fully automated process during the quarter ended Dec. 31, Upstart said in a presentation released Tuesday...
The great travel snapback continues, through digital channels, matching supply and demand for places to stay when getting away from it all. Airbnb noted in its results that the fourth quarter saw 98.8 million nights and experiences booked, up 12% from a year ago. As...
Even as Instacart is undergoing major layoffs to cut costs, the company continues to invest in fully digitizing the physical store to boost omnichannel efficiency. CEO Fidji Simo said in a Tuesday (Feb. 13) letter to shareholders discussing the company’s fourth-quarter 2023 financial results that Instacart...
Shopify saw continued acceleration in Shop Pay and faster checkout, and growth in its merchant base as a strong holiday shopping season drove results. But investors fled the stock Tuesday morning on the heels of guidance that pointed to rising operating costs. They sent the stock...
Expedia Group CEO Peter Kern said Thursday (Feb. 8) that he will step down in May after four years in that role, having led the company as it rationalized its operations and optimized its IT footprint. Kern and Expedia announced this move on the same day the global...
Buy the rumor, goes the old Wall Street saying, sell the news. And that may have been what happened with Affirm’s stock Thursday evening after the market closed, when investors sent the shares down 11% on the heels of a massive runup into earnings that...
Small businesses are having big problems in today’s economy. Business bankruptcy rates jumped 30% between September 2022 and September 2023, as macro factors like record high interest rates and the end of pandemic relief increasingly challenged the rosiness of small businesses’ prospects. And as PYMNTS reported, small businesses are...
Digital commerce firm Lightspeed continues to see success from its unified payments platform. The combined point-of-sale (POS) and payments platform, which debuted last year, helped increase the company’s gross payments volume (GPV) by 69% this year, management said during an earnings call Thursday (Feb. 8). Revenues were up 27%...
Slowing growth. A churning of inactive accounts. A slew of puts and takes dominated PayPal’s earnings Wednesday (Feb. 7), and a number of flat metrics sent investors headed, at least initially, for the exits in after-hours trading. The stock was down 7% Wednesday evening. Revenue...
