Discussing Q4 earnings with analysts, PayPal CFO John Rainey disclosed that 4.5 million accounts had been shut down after “bad actors” took advantage of incentives and rewards programmes, resulting in shares falling by 25%, according to Bloomberg. On the conference call, PayPal representatives revealed that inflation and supply chain disruption were to blame for customers […]
Waste Management CEO and President Jim Fish on Wednesday expressed confidence in the company’s 2022 prospects, despite the continued presence of inflationary pressures. “Our guidance that we just gave for 2022 is pretty darned robust,” Fish said in an interview on “Mad Money,” referring to projected organic revenue growth of 6% and adjusted operating EBITDA […]
Spotify (SPOT) reported fourth quarter financial results on Wednesday that beat Wall Street expectations — although the stock plunged after the company gave weak guidance on monthly active users for Q1 2022. Here is how Spotify performed this quarter, compared to analyst expectations, according to Bloomberg consensus estimates: Revenue: $3.025 billion (+24% Y/Y, +8% Q/Q) versus […]
Meta Platforms, formerly Facebook, is the latest casualty tied to inflation, and shares plummeted in the extended session. “We’re hearing from advertisers that macroeconomic challenges like cost inflation and supply chain disruptions are impacting advertiser budgets,” the company disclosed in its fourth-quarter earnings release. The stock traded as low as $257.65 as of 4:40 p.m. […]
Credit card processor Revolution Payments has made text payments available for its gateway customers in the U.S. The text-to-pay solution supports credit cards and ACH payments, the Virginia-based company said in a news release this week. “The integration of text-to-pay is in direct response to growing customer demand for these services,” said Revolution, whose customer […]
Digital payments platform Newt Corporation has inked an agreement with Element Bank to issue branded credit and debit cards in Mexico, the company announced Tuesday (Feb. 1). The new cards are connected to Newt’s planned lending program aimed at enterprises, credit unions and government employee programs. “Signing this agreement with Element Bank provides us with […]
Google parent Alphabet said its board approved plans for a 20-for-1 stock split on Tuesday as part of the technology company’s quarterly earnings statement. Alphabet stock rose more than 9% in after-market trading following the news. The move comes a year and a half after Apple most recently split its stock, giving three shares for […]
AT&T said on Tuesday it will spin off WarnerMedia in a $43 billion transaction to merge its media properties with Discovery and also cut its dividend by nearly half. AT&T shareholders will own 71% of the new Warner Bros. Discovery company and will receive 0.24 shares of Warner Bros. Discovery for each AT&T share they […]
Starbucks on Tuesday said higher costs are weighing on profits, leading the company to miss quarterly earnings estimates and cut its earnings outlook for fiscal 2022. But investors were expecting a much gloomier forecast. Shares of the company were down as much as 5% in extended trading before rebounding after executives shared their revised projections. The […]
Silvergate Capital CEO Alan Lane told CNBC on Monday the bank holding company hopes to launch a stablecoin by the end of this year, following its acquisitions of assets and intellectual property from Mark Zuckerberg’s beleaguered cryptocurrency project. The California-based financial firm, which through its subsidiary Silvergate Bank operates the crypto-focused payments platform Silvergate Exchange […]
Bank of America economists expect the Federal Reserve to hike interest rates at every meeting for the remainder of the year as central bank policymakers look to tackle the hottest inflation in nearly four decades. In a Friday analyst note to clients, the Bank of America economists – led by Ethan Harris – projected seven, […]
The average price for a gallon of gasoline in the United States rose slightly for the fifth week in a row, climbing 2.9 cents from a week ago, according to an industry expert. Currently, the national average is sitting at $3.34 per gallon, according to GasBuddy, which compiled price reports covering over 150,000 gas stations […]
