Regions Financial Corporation (NYSE: RF) reported second-quarter financial results before the regular trading hours on Friday. The bank holding company reported a loss of 25 cents per share, even as analysts expected a profit of 6 cents per share. Meanwhile, total revenue of $1.54 billion was above the street expectation of $1.47 billion.
RF shares fell 5% during pre-market hours on Friday. The stock has declined 36% since the beginning of this year.
CEO John Turner said, “Our reported net loss reflects a significant credit loss provision that provides for potential future losses in the severely adverse economy in which we are operating.”
In Q2, provision for credit losses was $882 million, compared to $92 million a year ago.
The CEO added, “The actions we have taken over time to strengthen and diversify our business, de-risk our loan book, deploy an effective interest rate hedging program and streamline our operating model have positioned us to support our customers and communities through these challenges.”
Target Corporation (NYSE: TGT) reported fourth-quarter 2020 financial results before the opening bell today. The department store chain reported Q4 revenue of $28.3 billion, up 21% year-over-year and higher than
Autodesk, Inc. (NASDAQ: ADSK) today reported its fourth quarter financial results for the period ended January 31, 2021. Net income for the fourth quarter was $911.3 million, or $4.10 per
Beyond Meat (NASDAQ: BYND), a specialist in plant-based meat substitutes, Thursday reported a wider loss for the fourth quarter, despite an increase in revenues. The numbers also missed the consensus