Items Tagged with 'Net income'

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U.S. Bancorp net earnings set new record in 2016

Net interest income grows in fourth quarter
U.S. Bancorp produced mixed results in their fourth quarter, but that did not prevent the company from setting a record year in 2016. The company’s net interest income also showed growth not just for the year, but also in the fourth quarter.
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Goldman Sachs investing and lending takes a hit in 2016

Decreases by 25% annually
Goldman Sachs reported its earnings early Wednesday morning, showing that while revenues are still up from last year, it is struggling in several areas. One of those areas includes its investing and lending sector, which decreased 25% in 2016 compared to the previous year. But that isn’t the only sector in the company that saw significant losses.
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JPMorgan Chase blows earnings estimate out of the water

Mortgage banking declines
JPMorgan Chase reported earnings that not only grew substantially from last year, but also blew estimates out of the water when earnings came in 20% higher than expected. However, not everything in the earnings report showed such strong numbers. The mortgage banking sector struggled in the last quarter of the year.
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Bank of America earnings per share beat expectations, increase 48%

But rise in interest rates came too late to affect Q4
Bank of America showed a positive quarter, and even beat already high expectations. But while the increase is up from last year, it still declined from the third quarter. The bank’s chief financial officer explains that rising interest rates, while not in time for the fourth quarter, could push net interest income even higher in 2017.
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SunTrust sees strong mortgage growth in Q3

Net income sees quarterly and annual decline
SunTrust saw its revenue grow in the third quarter driven, in part, by an increase in mortgage banking. This may not be surprising, but the bank’s delinquency portfolio, on the other hand, seems to run against the current trend.
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MGIC earnings beat expectations in Q3

Net operating income increases from last year
MGIC's net income dropped significantly in the third quarter from last year's total, but the decline isn't nearly as calamitous as it may seem. The company's revenue was actually above last year and above expectations. The increase is driven, in part, by a decrease in mortgage delinquencies.
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Bank of America earnings boosted by increase in mortgage banking

Improves mortgage servicing and lending
Bank of America earnings increased from last year and last quarter. The bank’s decreased expenses can be credited in part by the reduced costs of mortgage servicing. Several reports also put the primary earnings surge down to rising income from fixed securities trading, primarily in the bond market.
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