Goldman Sachs’s Third-Quarter Profit Soars

Goldman Sachs Group Inc.


GS 1.15%

’s

third-quarter profit nearly doubled, the latest confirmation that, even in a pandemic and a recession, Wall Street can still make money.

Goldman reported a quarterly profit of $3.62 billion, or $9.68 a share, on revenue of $10.78 billion. Both measures were better than the expectations of stock analysts, who forecast $1.94 billion in profit, or $5.54 a share, on revenue of $9.38 billion. Goldman posted a profit of $1.88 billion, or $4.79 a share, in the third quarter of 2019.

Worries that the coronavirus would rival 2008 as a threat to the U.S. financial system have subsided for now. Banks’ trading fees have surged. Bond investors’ appetite has allowed companies that borrowed billions from banks in emergency loans this spring to pay them back. Big corporate bankruptcies have leveled off.

Pain may still lie ahead, especially if unemployment stays high and a resurgence

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Warranty Master Changes Name to ScalePad; Ignites Greater Productivity and Profit Potential for MSP Partners Worldwide

VANCOUVER, BC, Oct. 14, 2020 /PRNewswire/ — Warranty Master is changing its name to ScalePad and launching its latest services innovation: Software Asset Management

  • New brand and technology innovations introduce a larger and more profitable revenue stream for more than 8,000 ScalePad MSP Partners.
  • ScalePad expands Asset Lifecycle Management portfolio 10 times with addition of software, offering MSPs a 360-degree view of customers’ technology infrastructure and investments.
  •  A preview of Software Asset Management is now available to all ScalePad MSP Partners at no charge to quickly demonstrate its positive impact on Partner productivity, sales pipelines and profits.

By expanding its Asset Lifecycle Management portfolio to include hardware, software and warranty services, ScalePad MSP Partners now have access to 10 times more data totaling 100 million assets managed.

A channel champion, ScalePad has enjoyed explosive growth in the last 12 months: 

  • Amassing more than 8,000 MSP Partners in 76
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Bookmaker GVC forecasts higher annual profit on online gaming boost

FILE PHOTO: A sign hangs outside a branch of Ladbrokes in London, Britain December 22, 2017. REUTERS/Simon Dawson

(Reuters) – Ladbrokes and bwin owner GVC Holdings GVC.L on Thursday raised its outlook for annual core earnings after posting a 12% rise in third-quarter revenue, helped by a surge in online gaming and as sports events such as the English Premier League resumed.

The company, which owns brands such as Coral and Eurobet, said full-year earnings before interest, taxes, depreciation, and amortization (EBITDA) is now expected between 770 million and 790 million pounds.

GVC had previously forecast annual EBITDA to be between 720 million pounds and 740 million pounds, and last week warned that new gambling rules in Germany, its second-largest online-gaming market, would reduce 2021 profit by 70 million pounds.

However, the company is steaming ahead as it also announced the acquisition of Bet.pt, an online gambling operator in Portugal.

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Bed Bath & Beyond posts surprise profit on booming online business

FILE PHOTO: Signs mark a Bed Bath & Beyond store in Somerville, Massachusetts, U.S. June 17, 2016. REUTERS/Brian Snyder

(Reuters) – Bed Bath & Beyond Inc BBBY.O on Thursday posted a surprise quarterly profit and its first comparable sales growth in nearly four years, boosted by strong online demand for home furnishing and decor, sending its shares up 17%.

Same-store sales jumped 6% for the second quarter ended Aug. 29, compared with a 1.78% drop estimated by analysts, according to IBES data from Refinitiv, largely helped by an 89% surge in online sales.

The retailer had been struggling to keep pace in a rapidly shifting retail landscape before the pandemic, prompting Chief Executive Officer Mark Tritton to focus more on the company’s online portfolio after taking charge last year.

“The marked improvement in our second quarter financial results reflects the potential of our digital-first, omni-always transformation,” Tritton said in a

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Bed Bath & Beyond Posts Surprise Profit on Booming Online Business | Investing News

(Reuters) – Bed Bath & Beyond Inc

on Thursday posted a surprise quarterly profit and its first comparable sales growth in nearly four years, boosted by strong online demand for home furnishing and decor, sending its shares up 17%.

Same-store sales jumped 6% for the second quarter ended Aug. 29, compared with a 1.78% drop estimated by analysts, according to IBES data from Refinitiv, largely helped by an 89% surge in online sales.

The retailer had been struggling to keep pace in a rapidly shifting retail landscape before the pandemic, prompting Chief Executive Officer Mark Tritton to focus more on the company’s online portfolio after taking charge last year.

“The marked improvement in our second quarter financial results reflects the potential of our digital-first, omni-always transformation,” Tritton said in a statement.

The company has benefited from consumers buying new furnishing and home decor online as many are expected to continue

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