Latest Earnings reports News
A $1.2 billion loss for Delta, but recovery is on the radar
Delta Air Lines lost $1.2 billion in the first quarter, more than expected, but executives said Thursday that the airline could be profitable by late summer if the budding recovery in air travel continues. CEO Ed Bastian said Thursday that ticket sales have been stronger...
UnitedHealth ups profit forecast after strong start to year
UnitedHealth's first-quarter profit jumped about 44%, and the nation's largest health insurer also hiked its 2021 outlook despite expecting more hits from the COVID-19 pandemic. The company said Thursday that the performance of its Optum division was particularly strong....
Citigroup profit triples in 1Q, tops estimates; revenue down
NEW YORK (AP) — Citigroup's profits more than tripled in the first quarter, the banking conglomerate said Thursday, helped by the release of billions of dollars from its loan-loss reserves. The bank also announced plans to scale back its global consumer banking franchise outside the U.S. ...
Bank of America profit doubles in 1Q to $8.1 billion
NEW YORK (AP) — Bank of America's profits doubled in the first quarter, the bank said Thursday, as the improving economy allowed it to release billions from its loan-loss reserves that it originally set aside in the early days of the pandemic. Bank of America is the...
Chipmaker TSMC says profit up 16.7% as demand revives
TAIPEI, Taiwan (AP) — Taiwan Semiconductor Manufacturing Co., the world’s biggest contract manufacturer of processor chips, said Thursday quarterly profit rose 16.7% over a year ago as global demand strengthened. Profit after tax rose to 139.6 billion New Taiwan...
Asian stock markets mixed after Wall St retreats from record
BEIJING (AP) — Asian stock markets were mixed Thursday after Wall Street retreated from a record high as major banks reported strong profits at the start of the U.S. earnings season. Shanghai, Hong Kong and Sydney declined while Tokyo and Seoul advanced. ...
Banks to see big profits as COVID 'bad' loans become 'good'
NEW YORK (AP) — The nation’s largest banks are expected to report big profits for the first quarter amid renewed confidence that pandemic-battered consumers and businesses can repay their debts and start borrowing again. The brighter outlook allows banks to move...
Wells Fargo earned $4.74 billion in Q1, topping estimates
SILVER SPRING, Md. (AP) — Wells Fargo had its best quarter in a year and a half, posting a profit of $4.74 billion and freeing up more than a billion dollars that had been set aside for potential loan defaults at the beginning of the coronavirus pandemic. The San...
JPMorgan 1Q profit up sharply, helped by improving economy
NEW YORK (AP) — JPMorgan Chase saw its first-quarter profit jump nearly five fold from a year earlier, as the improving economy allowed the bank to free up roughly $5 billion that it had stored away to guard against loan defaults in the early weeks of the pandemic. The...
Wells Fargo profit jumps to $4.74 billion in first quarter
Wells Fargo & Co. says first-quarter net income jumped to $4.74 billion from $653 million a year earlier, when the pandemic struck the global economy. The San Francisco-based bank said Wednesday that it had earnings of $1.05 per share in the latest quarter, compared...
