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Business Watch: Banks and other earnings
April 18, 2017 / 8:55 PM / 6 months ago

Business Watch: Banks and other earnings

Goldman slips

A Goldman Sachs sign is displayed inside the company's post on the floor of the New York Stock Exchange (NYSE) in New York, U.S., April 18, 2017. REUTERS/Brendan McDermid

Goldman Sachs usually outshines rivals when it comes to trading revenue, but not this quarter. The Wall Street behemot fell short of expectations due to a drop in trading revenue, prompting analysts to demand explanations.

Bank of America did better, and so did Volkswagen, helped by new car models and cost cuts.

Tech earnings

A Yahoo logo is pictured in front of a building in Rolle, Switzerland December 12, 2012. REUTERS/Denis Balibouse/File Photo

IBM’s revenue for the first quarter of the year missed for the first time in five years due to weak demand in its technology services business.

Yahoo reported a higher-than-expected revenue with a 35.6 increase in Mavens, the mobile, video, native and social advertising units that the company has touted as key emerging businesses.

In non-earnings news

A gasoline shortage in Cuba is good news for one Miami electric car dealer.

Verizon is going to buy optical fiber from Corning for at least $1.05 billion over the next three years as the No. 1 U.S. wireless carrier aims to improve its network infrastructure.

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