Accounting & Tax

Financial Reporting

SoftBank Posts Record $12.7B Operating Loss in 2019-20

The company’s tech fund reported a loss of $17.7 billion.

Source: Benzinga
May 18, 2020
Financial Performance

Video Game Sales Hit Record $10.8B in Q1

Consumers confined to their homes by COVID-19 are turning to games not only as a diversion but also for social connection.
Financial Performance

Denny’s Off-Premise Sales Soften COVID Impact

With dine-in sales shut down, the company has waived delivery fees, provided curbside pickup and launched shareable family meal packs.
Financial Performance

SmileDirect Sees Telehealth Boost From COVID

The company's Q1 results missed estimates but its performance "validates the strength, durability and flexibility of our business model.”
Regulation

Fluor Shares Dive on News of 10-Q Delay

The engineering firm is facing investigations into its accounting by the SEC and Department of Justice.
Global Business

Six Priorities for Travel CFOs During the COVID-19 Pandemic

Hard-hit travel industry companies must take steps to adjust their offerings, redefine pricing strategies, and focus on maximizing customer lifetime value.
Coronavirus

Marriott Takes Revenue Hit From Empty Rooms

“In the last few months, we have seen the impact of COVID-19 spread throughout our business in an unprecedented way."
Financial Performance

Sony Profit Dives in Q4 as Virus Hits Electronics

CFO Hiroki Totoki says Sony's consumer electronics unit has been hardest hit by the pandemic “but the impact will expand to other businesses."
Tax

Multinationals Derive Huge Benefits From Shifting R&D Abroad

Savings from moving R&D to take advantage of lower wages drives foreign profits about as much as lower tax rates.
Strategy

Major US Automakers Plan to Return to Work May 18

The companies say enhanced safety measures will be in place.
Regulation

Senators Push for Clarity on Payroll Support After Airlines Threaten Cuts

The lawmakers say that airlines that are involuntarily cutting workers’ hours may be violating the terms of federal coronavirus aid.
Financial Performance

Intuit Warns of Revenue Hit From Virus Crisis

The software firm cited the negative impact of COVID-19 on small business customers and the extension of the tax filing deadline to July 15.
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