Wells Fargo’s Wealth & Investment Management business has invested over $1 billion over the past several years to modernize its technology platform, with a new generative artificial intelligence-powered suite of tools for financial advisors being the latest addition, Wells Fargo Chairman and CEO Charlie Scharf...
It’s all about the consumer and artificial intelligence, even on a day when five big banks were tracking record-setting earnings. During JPMorganChase’s second-quarter earnings call Tuesday (July 14), executives described spending patterns and credit performance that continued to exceed expectations despite elevated interest rates. Chief...
Bank of America’s second-quarter earnings call Tuesday (July 14) was dominated by a simple message: Consumers in the United States are spending, companies are borrowing, capital markets are open, and the economy is proving stronger than expected. That backdrop helped the bank cruise past its...
The most recent earnings period shows that when capital markets become unusually active, leading banks are looking to monetize nearly every stage of that activity. That, at least, was the case with Goldman Sachs, which on Tuesday (July 14) announced record quarterly net revenue of...
Delta Air Lines has seen its latest digital tools boost customer satisfaction while helping travelers get where they want to go. During the company’s June quarter earnings call held Friday (July 10), Delta Air Lines Chief Operating Officer Dan Janki highlighted enhanced digital tools that...
PepsiCo says high prices at the pump are keeping consumers from heading into the store to buy snacks. The food and beverage giant reported earnings Thursday (July 9) revenues of $24.2 billion for the quarter, climbing 6.4% from the same period last year. However, this...
Nike is expecting an “unplanned benefit” in the form of a nearly $1 billion tariff refund. The sneaker giant revealed the refund when announcing full-year and quarterly earnings this week, even as CEO Elliott Hill warned that tariffs remain a “dynamic cost headwind.” The earnings showed full-year revenues of $46.4...
Kroger’s revenues ticked up slightly last quarter as its shoppers felt increased financial strain. “The customer is under pressure,” Greg Foran, chief executive of America’s largest traditional supermarket chain, said Thursday (June 18) as Kroger reported earnings showing revenues up 1%, compared to a 3.2% rise in the...
CarMax revenues are up, and CEO Keith Barr said he is focused on improving the company’s digital car shopping experience. The used car dealer reported quarterly earnings Wednesday (June 17) that showed net revenues of $8 billion, a 6.2% increase. To continue this trajectory, Barr...