Source: Dreamstime
Reading time: two minutes
Yesterday, the social media giant released its second-quarter earnings report that revealed a “moderate recovery” of its ad business compared with March. The ad revenue was, however, still 23% short of the figure reported in the previous year. On the other hand, the company did manage to attract a substantial amount of new users during the pandemic, which resulted in a near-immediate stock price rally of 4.1% in the hours following the report.
Source: Pixabay | Owner: Maklay62
Reading time: four minutes
Last Tuesday, 13.07, three of the biggest banks in the United States—JPMorgan Chase & Co, Wells Fargo & Co and Citigroup Inc—set aside a grand total of $28 billion to prepare for potential defaults on loans expected to rain from both individual and corporate clients. According to Bloomberg, the last time such an amount of money was set aside to deal with bad loans was during the Great Recession of 2008.
Source: Unsplash | Photographer: Razvan Chisu
Reading time: two minutes
On Tuesday (14.07), the bank reported a quarterly performance that took Wall Street analysts by surprise. According to the report, during its second fiscal quarter of 2020 JPMorgan managed to generate $33 billion in revenue (versus $30.3 billion expected) and $1.38 per share (versus $1.04 expected) in large part thanks to its record trading revenue figures.