A slate of big banks will report earnings before the market opens on Friday. The impact of inflation and interest rates will be watched closely, as will which banks can outperform their rivals on Wall Street.
JPMorgan Chase & Co (NYSE:JPM) is expected to post revenue of $39.64 billion and earnings of $3.87 per share, compared to revenue of $32.72 billion and earnings of $3.12 per share in the year-ago quarter.
Wells Fargo & Company (NYSE:WFC) is expected to post revenue of $20.16 billion and earnings of $1.22 per share, up from $18.77 billion and $0.85 per share a year earlier.
Citigroup Inc (NYSE:C) is expected to report revenue of $19.27 billion and earnings of $1.19 per share, compared to revenue of $18.5 billion and earnings of $1.63 per share a year earlier.
Meanwhile, Unity Software Inc (NYSE:U) CEO John Riccitiello is retiring after nine years at the video game software company following a highly controversial pricing model change that angered the developer community. Riccitiello will also step down as chairman and leave the board of directors, the company said Monday.
Last month, Unity frustrated developers who utilize the company’s software to create video games by introducing what it called the Unity Runtime Fee (URF). The URF charges developers each time a game is downloaded, once it hits certain revenue and download thresholds.