Truist reported better-than-expected earnings on Monday (April 20) as consumers and businesses take an economic hit from the coronavirus, noting that it has been providing payment relief assistance to customers amid the health crisis. Get the Full Story Complete the form to unlock this article...
Given the full-scale shutdown in the U.S. and across the world, one might have expected that quarterly earnings season would be a less than sunny experience. Bank of America’s quarterly earnings report yesterday bore that out as the bank reported a 48.5 percent drop in first-quarter...
It’s becoming a familiar refrain on Wall Street: reserves to cover potential soured loans. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS...
Citigroup reported underwhelming first-quarter results on Wednesday (April 15) as the coronavirus continues to shake the global economy, announcing an approximately $5 billion increase in loan-loss reserves and digital enhancements despite the crisis. Get the Full Story Complete the form to unlock this article and enjoy...
Wells Fargo’s first-quarter results showed the impact of reduced customer spending amid the continued impact of the coronavirus, and reserves taken in anticipation of loan losses. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS...
JPMorgan Chase reported results that showed the impact of the coronavirus, especially toward the end of the quarter, reflecting declines in consumer spending – and expectations that a significant number of loans and credit lines will sour. Get the Full Story Complete the form to...
PayPal’s CEO told investors and customers that the California-based electronic payments company deserves kudos for its performance last year. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe...
With the addition of 40 net new restaurants and a blended same-restaurant sales increase of 2.3 percent, Darden Restaurants, Inc. reported that total sales increased 4.5 percent in the fiscal third quarter of 2020. The restaurant company also repurchased roughly 0.6 million common stock shares...
Thanks to the coronavirus, we’ve now entered the age of social distancing, where interactions will, at least for now, be done through zeros and ones. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
