article thumbnail

Facebook’s Shares Plunge After Profit Decline

CFO News Room

startled investors with a sharper-than-expected decline in profits and a gloomy outlook in its first earnings report since Chief Executive. and Canada, two of the company’s most profitable markets, the results show. billion profit for the fourth quarter, below analyst expectations of $10.9 Facebook parent. Meta Platforms Inc.

article thumbnail

MiB: Zeke Faux, Number Go Up

Barry Ritholtz

He is the author of Number Go Up: Inside Crypto’s Wild Rise and Staggering Fall. His research found that there have been huge losses through scams and hacks. 5% makes Tether one of the world’s most profitable companies. Today, it’s trading at $0.069, down >99%. trillion in client assets. _

Numbers 69
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

How to Calculate Your Profitability: A Case Study

CFO Simplified

As Iowa State University reminds us, “profitability is the primary goal of all business ventures.”. Business leadership is often responsible for measuring current, past, and future profitability. But what is profitability? This CFO Simplified client watched profitability slowly disappear—until they incurred a $125,000 loss.

article thumbnail

Poshmark Files For IPO After Posting Record Profits

PYMNTS

Secondhand eCommerce platform Poshmark filed for an initial public offering (IPO) after posting more than $30 million in profit across two consecutive quarters. “We We only recently became profitable and have experienced net losses. The Silicon Valley startup posted a net loss of $14.5 million last year.

article thumbnail

FinTech Revolut’s Losses Triple As Customer Base Grows

PYMNTS

With its losses mounting, the London-based digital bank may need to tap into its corporate reserves to keep up with its expansion plans. The company posted a total loss of $139.6 Revolut attributed the losses to its expansion into new markets and the introduction of new products. million (£106.5 million) in 2019 — up from £32.9

article thumbnail

Gojek Curbs Losses As Indonesia’s Largest Startup Ramps Up Grocery Delivery

PYMNTS

Star Indonesian startup Gojek is moving closer to eventual profitability after staunching a tide of ink amid losses on core services like delivery and ride-hailing, according to a new report. That number hit 900,000 at the end of September, approaching double the 500,000 food vendors on Gojek’s platform at the start of the year.

article thumbnail

FDIC: US Banks See Chargebacks Soar, Profits Tank Due To Pandemic

PYMNTS

bank profits took a hit of 69.6 percent in profits in the first quarter of the year compared to the same time last year, according to Reuters. The profits only hit $18.5 billion as the coronavirus pandemic continued to cause lenders to write off delinquent debt and horde billions to prevent more losses later on.