Bank of America announced on Tuesday (Jan. 19) that its revenue net of interest expense for Q4 2020 fell 10 percent compared to the year-ago quarter, as the ranks of its mobile and digital banking users climbed. Get the Full Story Complete the form to...
The earnings theme for Tuesday (Jan. 19), at least in financial services, might be termed: A tale of two banks. 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...
In the first wave of Q4 earnings reports, J.P. Morgan Chase, Citigroup and Wells Fargo showed the pandemic’s impact on critical lending and spending, and of course debt repayment, may not have been as bad as had been feared in the dark days of Spring 2020....
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...
