Bank of America’s first-quarter earnings and revenue beat expectations due to higher interest rates. The banking giant reported its best quarter in a decade, according to its latest quarterly earnings report from April 18. BofA said its net interest income (NII) saw its largest boost, surging 25 percent, to $14.4 billion from the year-ago quarter due…
Bank of America First-Quarter Earnings Beat Expectations
April 18, 2023
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McDonald’s Tops Profit Estimates, Warns Inflation Pressures Persist
January 31, 2023
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McDonald’s announced that it had topped Wall Street estimates for the fourth quarter as it raised meal prices, despite the latest warnings that inflationary pressures would persist into this year. The fast-food chain said it is still aiming to build new restaurants to boost business as part of its new strategy, which the company says will add nearly…
Major Banks Beat Earnings Forecasts, but Recession Fears Increase
January 13, 2023
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Major American banks beat their earnings forecasts, but recession fears are beginning to mount. JPMorgan Chase, Bank of America, Citigroup, and asset management giant BlackRock reported positive forecasts on Jan. 13, but many investors were still left disappointed. The banks managed to beat Wall Street’s reduced expectations for their fourth-quarter results, as higher interest rates boosted…
Bed Bath & Beyond Reports Deeper Losses Than Prior Warnings
Bed Bath & Beyond (BBBY) reported deeper losses than expected after the company announced last week that it might have to seek bankruptcy. The home goods retailer witnessed a net loss of $393 million for the third quarter, more than the $366 million net loss in the second quarter. Analysts last week had originally expected a $386…
Target Reports Profit Plunge, Due to Warning Signs of Weak Holiday Sales
November 16, 2022
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Target’s latest earnings report revealed a massive plunge in profits, as the retailer warned of weak holiday sales. The retail chain reported on Nov. 16, that profits declined 49.3 percent in its fiscal third quarter, after struggling with unwanted inventory and fears of slow sales into the holidays. Consumer spending has lately begun to slow due to rising…
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