Earnings Reports

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Citigroup posted better than expected Q4 earnings and revenue Friday highlighted by its digital business. $C reported along with other money center banks JPMorgan Chase, PNC and Wells Fargo $WFC. The bank released around $1.5 billion linked to the release of previous credit loan provisions; $JPMC said it is freeing up $2.9 billion in reserves.

Wells Fargo reported worse than expected Q4 earnings before the bell on Friday after JPMorgan and Citigroup revenue rose in the same period. $WFC is still hampered by 'legacy' issues with nonperforming assets and non-accrual loans still rising.

PNC Financial reported better than expected fourth quarter earnings before the bell on Friday. $PNC saw higher interest income and a rise in non-interest income, reporting after Citigroup,  Wells Fargo $WFC and JPMorgan $JPM. The bank released around $254 million linked to the release of previous credit loan provisions;

JPMorgan Chase, America's largest bank reported better than expected Q4 earnings Friday before the open. $JPM investment-banking revenues rose 37% fueled by fixed-income revenues up 15% rise to $4 billion and equity revenues soaring 32% to $2 billion. Citgroup, PNC and Wells Fargo also reported Friday.

Video game retailer GameStop reported mixed third quarter earnings after the close Tuesday  $GME stock has been a hot stock in 2020 with investors like Scion's Michael Burry and Chewy's Ryan Cohen and is one of the most heavily shorted stocks on the market with approximately 90% of the shares in lending programs. $GME fell 20% on the report.

Zscaler shares soared to an all time high after beating earnings exppectations and raising guidance as the lockdown Work From Anywhere Trend (WFA)  and the digitization of business underscored that the shift continues to benefit $ZS with the surge in demand for it's cloud security products.

Retail giant Wal-Mart on Tuesday reported better than expected third-quarter earnings and reiterated for Q4. U.S. same-store sales rose 6.4%, continuing near 10 years highs, e-commerce sales jumped 79% as stay at home shoppers grew and $WMT continued to inch into $AMZN's space.

Chevron reported better than expected third quarter earnings Friday along with fellow oil major ExxonMobil. Capital spending was down 48% and operating expenses down 12%. Noble Energy acquisition completed in October 2020. Revenue continues to be hammered by the coronavirus economic collapse.

Oil giant ExxonMobil reported better than expected third quarter earnings Friday with its third quarterly loss in a row. The Covid pandemic has caused plunging oil demand within a supply glut but Exxon said seeing "early stages of demand recovery.” . Q1 was $XOM's first quarterly loss in 32 years.

Social media company Twitter reported better than expected third quarter earnings Wednesday beating on revenue and earnings BUT missed on key user metrics sending the stock down 17%. Investors are concerned for advertising revenue growth with $TWTR blatant political meddling.

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