Intuit Warns of Revenue Hit From Virus Crisis

Intuit Warns of Revenue Hit From Virus Crisis

Intuit shares fell in after-hours trading Thursday after the tax-preparation software firm forecast revenue would decline sharply in the third quarter due to the coronavirus pandemic. Intuit said it expected revenue to fall approximately 8% to between $2.99 billion and $3 billion, citing the negative impact of COVID-19 on small business customers and the extension […]

HSBC Sets Aside $3B for Virus Loan Losses

HSBC Sets Aside $3B for Virus Loan Losses

HSBC, Europe’s largest bank, said Tuesday it had increased loan loss provisions by more than 400% as it anticipates “severe recession events” due to the coronavirus pandemic. The increase in HSBC’s expected credit losses (ECL) for the first quarter to $3 billion from...