Average loans decreased 1% to $17.7 billion due to macroeconomic challenges and elevated gross credit losses impacting loan growth.
Bread Financial reported adjusted net income of $149 million and adjusted EPS of $3.15 for Q2 2025, excluding $10 million post-tax debt repurchase expenses.
Credit reserve rate improved to 11.9%, a 30 basis point improvement year-over-year and sequentially.
Credit sales grew 4% year-over-year to $6.8 billion, driven by new partner growth and higher general purpose spending.
Delinquency rate improved to 5.7%, down 30 basis points year-over-year; net loss rate improved to 7.9%, down 70 basis points year-over-year despite hurricane impacts.
Direct-to-consumer deposits grew 12% year-over-year to $8.1 billion, accounting for 45% of average total funding, improving funding mix.
Net interest income decreased 1% year-over-year due to lower billed late fees and a shift in risk and product mix, partially offset by lower interest expense and pricing changes.
Net interest margin was 17.7%, down 30 basis points year-over-year, impacted by elevated cash mix and lower loan yields.
Noninterest income increased $3 million, mainly from paper statement pricing changes, offset by lower net interchange revenue.
Return on average tangible common equity was 22.7% for the quarter.
Revenue was $929 million, down 1% year-over-year, primarily due to lower finance charges and late fees, partially offset by lower interest expense.
Total noninterest expenses increased 3% year-over-year to $12 million higher, mainly due to $13 million debt extinguishment costs; adjusted expenses were nearly flat.
A $1.2 billion gain on digital assets, including BTC receivable, was recorded in Q2 2025 reflecting the impact of bitcoin holdings on the balance sheet.
Average bitcoin production was 25.9 BTC per day in Q2 2025 compared to 22.9 BTC per day in Q2 2024, resulting in 300 more BTC earned.
Bitcoin holdings surged over 170% year-over-year from approximately 18,500 BTC to nearly 50,000 BTC, with market value increasing by more than $4.2 billion or 362%.
Net income was $808.2 million or $1.84 per diluted share in Q2 2025 compared to a net loss of $199.7 million or $0.72 per diluted share in Q2 2024.
Owned and operated sites now account for approximately 70% of total hashrate, contributing to operational and financial improvements.
Purchased energy cost per bitcoin was $33,735, among the lowest in the sector, with a 24% year-over-year improvement in daily cost per petahash.
Q2 2025 was a record-breaking quarter for MARA with new highs in revenues, adjusted EBITDA, net income, energized cash rate, lead efficiency, and blocks produced in May.
Revenues increased 64% to $238.5 million from $145.1 million in Q2 2024, driven primarily by a 50% increase in average bitcoin price contributing $77 million.
Adjusted EPS was $4.66, up 5.7% from the prior year, supported by share repurchases and higher net income.
EBITDA for fiscal 2025 was $976 million, a 1.4% improvement over the prior year but within the outlook range.
Free cash flow generation was approximately $600 million, supporting strong liquidity and capital allocation.
H&R Block reported fiscal 2025 total revenue of $3.8 billion, a 4.2% increase year-over-year.
Net income from continuing operations was $609 million, with earnings per share (EPS) of $4.42, a 6.8% increase year-over-year.
Total operating expenses increased 4.6% to $2.9 billion, driven by higher tax professional wages, benefits, healthcare costs, legal fees, and severance charges.
Alternative investment income was $60 million below expectations due to lower private equity and real estate returns and a $50 million unfavorable impact from the annual assumption update process.
Capital position remains strong with cash and liquid assets at $3.9 billion, above the $3 billion minimum liquidity target.
Group insurance had one of its best earnings quarters recently with strong underwriting results and a benefit ratio improved to 80.9%.
Individual Life sales grew 10% year-over-year with improved earnings results.
Institutional Retirement delivered $9 billion in sales, including robust Longevity Risk Transfer transactions.
International businesses sales were up 4%, driven by retirement and savings products in Japan despite surrender headwinds.
PGIM's assets under management increased by 8% to $1.4 trillion, with total net flows of $400 million including $2.6 billion institutional inflows and $2.8 billion retail outflows.
Pretax adjusted operating income was $1.7 billion or $3.58 per share, up 9% from the prior year quarter.
Dafinchi