Tag:
revenue
Latest Headlines
Latest Headlines
Wells Fargo posts strong performance
Compared to Citigroup anyway, Wells Fargo's fourth quarter earnings were better received.
The San Francisco-based lending giant reported $4.1 billion profit in profits, or $0.73 a share. That just topped the average analyst estimate of $0.72 a share. The consumer lending giant certainly benefi
Surprise! Banks have thrived since 2008
The conventional wisdom is that big banks are ailing right now, groping for a return to the good times. There's good reason to believe as much. Just look at the stocks of the biggest banks, which are all trading at severe discounts to their book value. And look at the recent downward trend in reve
Needed in the bank industry: A revenue visionary
Banks are once again finding themselves retrenching amid yet another perfect storm of financial woes. The lending business remains depressed in a low-rate environment, costly regulations are kicking in, the trading business has kicked up but perhaps only temporarily, litigation costs are mounting,
Morgan Stanley surprises on the upside
Did Morgan Stanley ( NYSE: MS ) just turn the quarterly earnings table on Goldman Sachs? You might think so, given the upside surprise Morgan Stanley just delivered for the fourth quarter of 2010.
The Wall Street bank reported net income of $836 million, or 41 cents per share, compared w
Wall Street's banner year in revenues
You might not have guessed it, given the general sense that Wall Street banks are struggling, but the top five banks are in a record-breaking period of revenue generation. Goldman Sachs, JPMorgan Chase, Bank of America, Citigroup and Morgan Stanley "will likely have a better fourth quarter than th
Revenues take big trading hit at top banks
The big earnings story so far has been the drop in revenue at the top banks. At Citigroup (NYSE: C ), revenues fell 26 percent to $22.1 billion from $30.0 billion a year ago. At Bank of America (NYSE: BAC ), second quarter revenues dropped 11 percent to $29.2 billion from $32.8 billion a yea
JPMorgan caves to pressure on bonuses
We suggested recently that people keep their eye on the compensation-to-revenue ratio at top banks for indications of whether bonuses are really coming down. At JPMorgan ( JPM ), the ratio indeed seems to be dipping. The bank has announced it has set aside 33 percent of its investment banking re
Wachovia's life insurance policies lead to huge loss
We've all been talking about writedowns for leveraged loans, subprime-related securities, and heck even plain loan losses. But life insurance policies? Huh? About $315 million of Wachovia 's first-quarter loss of $708 million was due to writedowns stemming from a revaluation of the life insura
Blackstone Group's earnings disappoint
Blackstone Group's earnings took a hit but not for the reasons you might think. The firm's private equity business reported strong enough revenues, $227.3 million, up 42 percent from a year ago. The real downer was real estate. Revenue from which declined 44 percent to $109 million. The real esta
More banks aim to boost high-end wealth management
Lost in the earnings hubub, one bright spot at Bank of America has been overlooked: wealth management. Financial News Online notes that revenues rose 24 percent, bolstered by the acquisition of U.S. Trust, which contributed about 10 percent to revenue.
Bank of America is hardly the only
