All articles tagged with #first quarter results
AT&T will report its first-quarter results on Thursday, with a focus on growth in subscribership in a shrinking market. Analysts expect demand to swing back toward normal levels after surging during the pandemic, which may result in some companies losing subscribers as the industry continues heavy investments to provide the best service.
Bank of America's CFO, Alastair Borthwick, reassured investors about $99 billion of unrealized losses on its bond portfolio during the company's earnings conference call. The bank's bond portfolio is classified as held-to-maturity for accounting purposes. Borthwick emphasized that the bank's net interest income would rise in a higher-rate environment.
Western Alliance's stock fell by as much as 17% on Wednesday after releasing a preview of its first-quarter results, which showed that its percentage of deposits covered by the Federal Deposit Insurance Corporation was 68%, "significantly higher" than at the end of 2022. The bank released a second update on Wednesday afternoon, stating that deposits fell by $6 billion during the first quarter. The stock was down closer to 10% near 2:20 p.m. ET following this second update for investors. The bank's CEO, Kenneth Vecchione, said that Western Alliance's "uniquely flexible, diversified business model positioned us to weather the liquidity tightness that enveloped the industry over the past month."