November 27, 2020
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Virgin Money’s full-year pre-tax loss shrinks to £168 million

Virgin Money’s full-year pre-tax loss shrinks to £168 million. The British firm values its credit impairment charge at £501 million. Virgin Money’s statutory ROTE jumps to negative 6.2%. In a report on Wednesday, Virgin Money UK plc (LON: VMUK) said that it booked a sizable impairment charge in fiscal 2021 but concluded the financial year with a pre-tax loss that was
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Intuit says its net income jumped over 200% in the fiscal first quarter

Intuit says its net income jumped over 200% in the fiscal first quarter. The financial software company reports a 14% increase in its revenue. Intuit forecasts up to £1.39 billion of revenue for the second quarter. Intuit Inc. (NASDAQ: INTU) said on Thursday that its revenue in the fiscal first quarter came in 14% higher on a year over year basis. At £149.24 million, its
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Experian says its pre-tax profit slid to £345.46 million in the fiscal first half

Experian says its pre-tax profit slid to £345.46 million in the fiscal first half. The consumer credit reporting company posts £1.88 billion of revenue in H1. Experian's benchmark EBIT declines to £505.36 million in the first six months. In a report on Tuesday, Experian plc (LON: EXPN) said that its pre-tax profit in the fiscal first half came in lower on a year over year
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TP ICAP’s revenue slides 19% in the fiscal third quarter

TP ICAP’s revenue slides 19% in the fiscal third quarter. The British firm expects £35 million of annual savings from restructuring. TP ICAP appointed Moorgate Benchmarks as benchmark administrator. TP ICAP plc (LON: TCAP) said on Monday that its revenue in the fiscal third quarter came in 19% lower on a year over year basis. The world’s largest inter-dealer broker also
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SoftBank swings to £4.61 billion of net profit in the fiscal second quarter

SoftBank swings to £4.61 billion of net profit in the fiscal second quarter. The conglomerate holding firm reports a 4.5% annualised growth in revenue. The Japanese company values its net gain on investments at £10 billion. SoftBank (TYO: 9984) said on Monday that it swung to a net profit in the fiscal second quarter, on the back of earnings attributed to its Vision Fund
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Berkshire Hathaway’s revenue slides 3% in the fiscal third quarter

Berkshire Hathaway’s revenue slides 3% in the fiscal third quarter. The conglomerate holding firm's operating earnings were 32% down. Precision Castparts reports an 80% decline in pre-tax earnings. In a report on Saturday, Warren Buffett’s Berkshire Hathaway (NYSE: BRK.A) reported £22.88 billion of earnings in the recent quarter versus the year-ago figure of a much lower
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Allianz says its operating profit slipped to £2.63 billion in the fiscal third quarter

Allianz says its operating profit slipped to £2.63 billion in the fiscal third quarter. The German company discontinues share repurchase programme for 2020. Allianz property-casualty business took the hardest hit due to the COVID-19 crisis. Allianz SE (ETR: ALV) said on Friday that its operating in the fiscal third quarter came in slightly lower than lasts year. In an
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PayPal’s net income jumps more than 100% in the fiscal third quarter

PayPal’s net income jumps more than 100% in the fiscal third quarter. The online payment processor reports £4.23 billion of revenue in Q3. PayPal forecasts an up 28% growth in annual adjusted per-share earnings. PayPal Holdings Inc. (NASDAQ: PYPL) said on Monday that its revenue in the fiscal third quarter was better than expected. The company attributed its hawkish
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Visa says net income contracted to £1.65 billion in the fiscal fourth quarter

Visa says net income contracted to £1.65 billion in the fiscal fourth quarter. The financial services corporation reports a 4% growth in payment volumes. The American multinational's fourth-quarter revenue slides to £3.93 billion. Visa Inc. (NYSE: V) said on Wednesday that signs of improvement were evident in its overall payment volume in the fiscal fourth quarter. The