LoanDepot expects the mortgage industry to continue facing a challenging environment. Recent interest rate increases have reduced industry forecasts for market volumes for the year, the company said in a Tuesday (May 7) earnings release. “Since our last call, the expectations for lower interest rates have been...
Marqeta’s latest results and commentary showed momentum in the company’s transaction processing operations — and opportunity in nascent markets such as earned wage access. CEO Simon Khalaf said the company’s efforts and value for its corporate clients span the “spectrum of integrated payment options” across...
In a challenging market environment, Match Group, the parent company of dating apps Tinder, Hinge and OkCupid, is reportedly expecting lower than estimated quarterly revenue. The Dallas-based company has been grappling with weaker discretionary spending by users amid an uncertain economy, Reuters reported Tuesday (May 7). Match Group said Tuesday that its revenue...
After a few weeks of an earnings season marked by cautionary optimism about the state of the U.S. consumer, CarParts.com said the quiet part out loud Tuesday (May 7) as it showed a significant drop in revenue and profit for the first quarter. “Our performance...
If you are in the business of providing loans, there will always be a demand for your product. As for the customers that need to be served, the total addressable market (TAM) for annual loan originations is a whopping $3 trillion. Artificial intelligence (AI)-powered lending...
As consumers feel their budgets come under pressure, people continue to spring for live event tickets, Vivid Seats’ latest earnings results reveal, even as they cut back on retail purchases. The online ticket resale marketplace reported Tuesday (May 7) that it saw marketplace gross order value (GOV) of...
Neobank Dave said it improved its credit performance over the past year with the use of artificial intelligence (AI). Between the first quarter of 2023 and the first quarter of 2024, Dave reduced its 28-day delinquency rate from 2.60% to 1.83%, the company said in a presentation released...
Simon Property Group has seen a “big comeback” in malls, driven in part by domestic tourism. The company, which is a real estate investment trust that owns shopping, dining, entertainment and mixed-use destinations, saw its occupancy rise 1.1% year over year (YoY) and reach 95.5% as of...
We’ll know more detail when Fidelity National Information Systems (FIS) holds its investor day on Tuesday (May 7). But ahead of that event, the company’s first quarter earnings, and management commentary, took note of growth in key banking and capital markets solutions. During the Monday (May 6) conference call, sans Q+A, CEO...
