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Home | Tag Archives: Quarterly Earnings

Tag Archives: Quarterly Earnings

Fannie Mae Reports Reduced Income for Q4, Full Year 2014

cutting-money

*+-Based on its net worth—about $3.7 billion—Fannie Mae said it will pay $1.9 billion in dividends to Treasury, per the terms of the GSEs' amended bailout agreement. As of March, the company will have paid a total of $136.4 billion to taxpayers on the $116.1 billion it drew as a result of the financial meltdown.

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Legal Expenses Plague Bank of America Earnings

mixed-dollar-results

*+-Bank of America reported Wednesday a nearly 43 percent decline in second-quarter profits compared to last year thanks to a significant litigation charge. BofA posted second-quarter net income of $2.3 billion on revenue of $22.0 billion. A year ago, the megabank reported bringing $4.0 billion

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JPMorgan Earnings Report Mixed

commercial-falling-money

*+-Second-quarter profits at JPMorgan Chase dipped nearly 8 percent year-over-year as the bank continued to work with a diminished mortgage market. JPMorgan's latest earnings report, released Tuesday, shows the megabank earned $6.0 billion in profits over the latest three months, putting its performance somewhere between the $5.3 billion reported in the first quarter and $6.5 billion a year ago.

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Bank of America Legal Expenses Hurt Q1 Earnings

*+-Bank of America’s first-quarter earnings were hit hard by legal expenses, resulting in a net loss of $276 million to start the year. The loss follows a profitable fourth quarter of 2013, which saw the bank taking in $3.4 billion. For the first quarter of 2013, BofA reported net income of $1.5 billion. The results for the first quarter include $6 billion in litigation expenses related to a major settlement the Federal Housing Finance Agency (FHFA) over legacy securities claims.

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PNC Reports Q1 Income of $1.1 Billion

*+-PNC Financial Services Group released its quarterly earnings, reporting a net income of $1.1 billion, or $1.82 per diluted common share. While net income was positive, it didn't reach as high as the fourth quarter of 2013, when net income was $1.1 billion or $1.87 per diluted common share.

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Citigroup Reports $3.9B in Quarterly Profits

*+-Citigroup reported Monday profits of $3.9 billion in Q1, just barely edging out last year’s income of $3.8 billion. Gains were more impressive when put next to Q4’s earnings, which disappointed at $2.5 billion. The gain came despite a year-over-year drop in total revenues, which were down 1 percent to $20.1 billion as a result of declines in fixed income markets revenues and lower refinancing activity.

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Wells Fargo, JPMorgan Report Shrinking Mortgage Activity

*+-Two quarterly earnings reports revealed very different results for two major players in the mortgage industry. Wells Fargo and JPMorgan Chase both felt the sting of a shrinking mortgage market, but one bank revealed substantial growth. Wells Fargo reported a record net income of $5.9 billion for the first quarter, an increase of 14 percent from the year-ago quarter and 5 percent from Q4 2013.

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