Snap Inc., the parent company of Snapchat, has announced its second-quarter financial results, including an operating cash flow increase by $29 million to $67 million and an influx of 17 percent more daily active users for a total of 35 million more daily users, the...
As earnings season starts up, the world is getting a glimpse into how the global pandemic and subsequent economic meltdown is impacting firms of all kinds. Of particular interest to market watchers are the FAANGs – Facebook, Amazon, Apple, Netflix and Alphabet/Google – and how...
Carbonated soft drinks, as a category, is getting accustomed to change. Consumers were already buying less sugary soda when COVID-19 hit, and second-quarter earnings reports from Coca-Cola and PepsiCo show the two iconic brands must make big modifications to what was seen as an impervious...
IBM‘s revenue fell 5.4 percent in the second quarter due to the reduced spending on computer equipment during the pandemic in lieu of going digital on the cloud, Financial Times (FT) reported. Get the Full Story Complete the form to unlock this article and enjoy...
Netflix 1. Movie theaters: 0. That was the score for the second quarter as Netflix and other streaming services were the only game in town for filmed entertainment. And with a stunning 10 million new subscribers, the digital shift has been fast and powerful for...
Charlotte, North Carolina-based Truist Financial Corp. on Thursday (July 16) became the latest bank to report some good news in its second-quarter results, but there is also a lot of evidence that the consumer-banking business is being pummeled by COVID-19. Get the Full Story Complete the...
Bank of America reported Thursday (July 16) that that the number of customers using the firm’s mobile and digital platforms grew during the second quarter even as the pandemic raged. However, the bank nonetheless built up an extra $4 billion in reserves during the period...
Goldman Sachs reported on Wednesday (July 15) that consumer deposits grew by a record $20 billion to $92 billion during the second quarter as the bank continued to expand its digital consumer platforms. Get the Full Story Complete the form to unlock this article and...
Big banks kicked off the second-quarter earnings season Tuesday (July 14) by reporting COVID-weakened consumer banking revenues, but bright spots in trading and digital. While JPMorgan Chase and Citi managed to come out ahead of analyst estimates, Wells Fargo posted a top-line miss and a...
