Financial Performance

Credit

Bank Profits Rise 9% to $59.9B in 4th Quarter

“Banks remained resilient in fourth quarter 2020, consistent with the improving economic outlook,” the FDIC says.

Matthew Heller
February 23, 2021
Financial Performance

Surprising Earnings Growth Seen for Fourth Quarter

"Upbeat fourth-quarter results would bolster expectations for a strong rebound in earnings in 2021."
Credit

Visa Beats Estimates on Online Shopping Surge

“Our performance in the fiscal first quarter reflected solid results and continued positive momentum in a challenging COVID-19 environment."
Financial Performance

Apple Tops Q1 Earnings Expectations

The iPhone fetched the company $65.60 billion in sales by virtue of 17.23% year-over-year growth.
Financial Performance

Starbucks’ U.S. Sales Fall Amid COVID-19 Surge

The first quarter saw "meaningful, sequential improvements in quarterly financial results despite ongoing business disruption from the pandemic."
Financial Performance

Strong Cash Flow Boosts GE Turnaround Hopes

“As 2020 progressed, we significantly improved GE's profitability and cash performance despite a still-difficult macro environment."
The Cloud

IBM Shares Dive As Revenue Woes Continue

"The actions we are taking to focus on hybrid cloud and AI will take hold, giving us confidence we can achieve revenue growth in 2021.”
Financial Performance

AT&T Takes $15B Writedown on Ailing DirecTV

The writedown of the premium TV business reflects "years of cord-cutting as viewers move to cheaper online streaming services."
Financial Performance

Netflix Tops 200M Subs, Sees Positive Cash Flow

The streaming giant's shares jumped 12% after it indicated it would return any excess cash to shareholders through buybacks.
Financial Performance

Wells Fargo Shares Dip 7% on Q4 Revenue Miss

"Our results continued to be impacted by the unprecedented operating environment and the required work to put our substantial legacy issues behind us."
Financial Performance

Delta Posts Record Loss, Cuts Cash Burn

“Our December quarter results capped the toughest year in Delta’s history,” Delta CEO Ed Bastian said.
Applications

Google Waives $1.5B in DeepMind Startup Debt

The waiver "underscores Google's commitment to DeepMind, with little indication the [AI] startup is likely to turn a profit any time soon."
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