Post Tagged with: "earnings"

Payments Down, While Ad Revenue Soars for Facebook

Payments Down, While Ad Revenue Soars for Facebook

by April 28, 2016 at 2:33 pm 0 comments

Facebook expects its payments revenue for 2016 to come in lower than 2015. The company couldn’t be more clear: ads are “the big focus.” The company’s ad revenue this quarter soared 57% year over year, hitting $5.4 billion, of which $4.2 billion – 82% – was mobile. In comparison, totalRead More

PayPal’s ‘Best Quarter Ever’ Credited to Venmo

PayPal’s ‘Best Quarter Ever’ Credited to Venmo

by April 28, 2016 at 10:51 am 6 comments

PayPal Holdings Inc. reported total payments volume of $81 billion for the quarter, up 29% from a year ago. Its newer services – Venmo and Xoom – were at the center of it all. Venmo processed nearly $3.2 billion in payments this quarter, up 150% YoY, proving once again thatRead More

In Spending Mode, Discover’s Direct Bank Expenses Climb 18%

In Spending Mode, Discover’s Direct Bank Expenses Climb 18%

by July 24, 2015 at 11:19 am 0 comments

Discover Financial Services might be the major FI most engaged in spending on information technology today. Which is why it is worth noting that the company claims it is already “seeing good returns associated with those” spending efforts, according to R. Mark Graf, the credit card issuer’s chief executive officer andRead More

Share of Digital Sales at Bank of America Hits 60%

Share of Digital Sales at Bank of America Hits 60%

by July 16, 2015 at 11:42 am 2 comments

Bank of America might want to change its name to Digital Bank of America. The Charlotte, N.C., megabank is more digital bank than conventional financial institution today. That’s because 60% of the bank’s “sales” are “all digital now,” Brian T. Moynihan, Chairman and CEO of Bank of America, told investorsRead More

Wells Fargo Goes AWOL With Its Mobile Performance Data

Wells Fargo Goes AWOL With Its Mobile Performance Data

by July 15, 2015 at 10:45 am 1 comment

Transparency took a left hook to chin yesterday when Wells Fargo & Co. chose to withhold a crucial piece of its financial data. Specifically, Wells Fargo for the first time in at least two years refused to disclose the exact number of its active mobile banking users. Instead, Wells FargoRead More

Yodlee Scores Northwest Mutual as a Client

Yodlee Scores Northwest Mutual as a Client

by May 8, 2015 at 10:11 am 1 comment

Yodlee has secured a client agreement with The Northwest Mutual Life Insurance Co., the company disclosed yesterday. Northwest Mutual is a notable win, considering the insurance company’s $26.7 billion of total revenue in 2014. Anil Arora, Yodlee’s CEO, told investors yesterday that Yodlee has “recently launched both the Yodlee wealthRead More

My LendingTree Nears 1 Million Users, Launches iOS App

My LendingTree Nears 1 Million Users, Launches iOS App

by May 4, 2015 at 11:57 am 1 comment

Personal financial management app My LendingTree has rapidly gained users since its launch earlier this year. LendingTree CEO Doug Lebda said on the company’s earnings call last week that My LendingTree had nearly 1 million users. Lebda discussed the site at Bank Innovation 2015 in early March, saying the final touches were being putRead More

Mobile User Growth Eases at Bellwether Banks

Mobile User Growth Eases at Bellwether Banks

by April 15, 2015 at 9:45 am 1 comment

Mobile banking ain’t growing like it used to. A deep look mobile banking at the Big 3 banks — Bank of America, Wells Fargo & Co. and JPMorgan Chase & Co. — finds user growth easing. The banks had a total of 51.8 million mobile banking users at the end ofRead More

Bank Spending Trends Show Why There Is Little Room for Innovation

Bank Spending Trends Show Why There Is Little Room for Innovation

by January 29, 2015 at 10:26 am 1 comment

Are banks cutting or expanding their expense spending? This is an important question because, invariably, innovation spending comes from an expansion of expenses. In other words, fewer expenses might mean less innovation. The answer is  not good for the banking innovation sector. According to an interesting analysis from Sterne Agee, aRead More

Capital One’s Fairbank Gets Passionate About Digital

Capital One’s Fairbank Gets Passionate About Digital

by October 17, 2014 at 10:17 am 1 comment

Capital One founder and CEO RIchard Fairbank got passionate about digital in the bank’s earnings call yesterday