Citigroup reported stronger than expected Q4 earnings Friday (Jan. 15) that showed a solid digital business, but fell short on expected revenue. Earnings fell by 7 percent to $4.63 billion, or $2.08 per share — well ahead of analysis predictions of $1.34 a share. Revenues...
Wells Fargo reported on Friday (Jan. 15) as part of its Q4 2020 earnings that its provision for credit losses fell $823 million. The bank attributed the drop mostly to a $757 million reserve release due to the announced sale of its student loan portfolio...
J.P. Morgan Chase posted fourth-quarter earnings results on Friday (Jan. 15) that showed the impact from the pandemic and economic headwinds were not as bad as might have been feared earlier in the year – but caution is still warranted. The march toward digital-first banking,...
Showing the continued struggles of retail stores in the pandemic era, Nordstrom reported a 22 percent net sales decline for the nine-week holiday period that ended Jan. 2, according to a press release. Get the Full Story Complete the form to unlock this article and...
The start of earnings season typically is marked by banks’ reports – and a slew of them report this week, clustered on Friday (Jan. 15). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
Cruise ship operator Carnival is looking at a loss of $2.22 billion for the fourth quarter ending Nov. 30 because of the pandemic’s shutdown of its voyages for almost a year now, The Wall Street Journal (WSJ) reported. Get the Full Story Complete the form...
When the largest banks in the U.S. start reporting fourth-quarter results, it is expected that profits will be down by as much as 40 percent from last year, Reuters reported on Monday (Jan. 11). Get the Full Story Complete the form to unlock this article...
FedEx reported on Friday (Dec. 18) as part of its Q2 fiscal 2021 earnings that higher volumes in international priority and U.S. domestic residential package services, in addition to pricing initiatives throughout all transportation segments, fueled increased operating results. Get the Full Story Complete the...
Nike reported on Friday (Dec. 18) as part of its Q2 fiscal 2021 financial results that its flagship Nike brand’s digital sales surged 80 percent on a currency-neutral basis during the three-month period. The shoe giant said that included triple-digit percentage growth in North America...
