Consumer spending articles
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Block raises annual forecast on resilient consumer spending
Payments firms have benefited from a tight labor market and wage growth that has allowed Americans to set aside worries of an economic slowdown and continue spending on travel, shopping and dining out. The company now expects annual adjusted core earnings to be at least $2.76 billion, higher than its previous forecast of $2.63 billion. Block also forecast adjusted core earnings between $670 million and $690 million in the second quarter, compared with analysts' average expectation of $642.2...
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Mastercard's profit beats on strong card spending by U.S. consumers
Gross dollar volume, the value of all transactions processed on Mastercard's platform, rose 10% to $2.3 trillion. Cross-border volume, which tracks spending on cards outside of the country of their issue, rose 18%. The payments technology industry is gearing up for a seismic shift following Capital One's $35.3 billion deal to acquire Discover Financial.
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Enova Reports Record Lending Volume Driven by Jobs, Consumer Spending
Online lender Enova International reported growing lending volume and solid credit performance for the first quarter. During the quarter ended March 31, Enova’s combined loans and finance receivables increased 23% year over year, reaching a record $3.5 billion. Total company originations for the quarter totaled $1.4 billion, according to the press release. Small and medium-sized business (SMB) products […]