Starbucks’s artificial intelligence (AI)-powered personalized rewards efforts, aimed at increasing customer frequency and spending, appear to be facing challenges. Following the announcement of “disappointing” second-quarter 2024 results on Tuesday (April. 30), Starbucks shares plummeted by about 8%. This decline was attributed to various factors including a challenging macroeconomic environment,...
LendingClub noted in its latest results that deposits on its balance sheet grew as customers gravitated to high-yield savings products, credit quality was strong — and embedded finance solutions may offer a new avenue of future growth. As detailed in the most recent earnings materials, deposits of $7.5...
As consumers seek more frictionless eCommerce experiences, Pinterest is seeing user demand for shoppable features, as long as the purchasing journey is simple and intuitive. The social media company shared Tuesday (April 30) in its first quarter fiscal 2024 earnings report that revenue was up 23%...
Samsung overtook Apple to become the world’s highest-volume seller of smartphones in the first quarter. To become the new holder of the No. 1 spot, Samsung shipped 60 million units during the quarter, independent analyst company Canalys said in a Tuesday (April 30) press release. Apple slipped to second while shipping...
Casual dining company Brinker International wants to capitalize on diner discontent with fast food prices. The company — owner of Chili’s and Maggiano’s — released earnings Tuesday (April 30) showing a 3.3% increase in sales, driven primarily by increased menu pricing and an uptick in dine-in traffic. To continue driving that traffic,...
PayPal’s transactions per active account grew by double digits in the latest quarter, and debit spending boosted results, while easier, faster checkout boosted conversions. Total payment volumes were up 14% to $403.9 billion in the quarter, the company said in its most recent earnings supplementals,...
SoFi Technologies’ latest quarterly earnings results released Monday (April 29) showed a surge in direct deposit activity — and that more customers are using SoFi Money accounts for those direct deposits. CEO Anthony Noto observed on a conference call with analysts that total deposits were up 16% year over year during...
Capital One’s first quarter results showed consumers continue to spend on their cards — and management touted the benefits of the proposed $35 billion buyout of Discover Financial Services. Purchase volume on its cards was up 6% year over year to $146.6 billion, but was...
Snapchat parent company Snap believes that augmented reality (AR) will be “one of the most meaningful advancements in computing that the world has ever seen.” Evan Spiegel, CEO of Snap, said this Thursday (April 25) during the company’s quarterly earnings call. He said that Snap considers AR to...
