operational highlights in 2025 Net income increases by 26%, evolving in all quarters Revenues grow by 13.2%, being the main driver of higher profitability We Stand For People An Empowered Team Results -Driven Together We Evolve We Stand for Customers Challenge Oriented I AM BRADESCO our evolving culture Translation Profitability continues to improve in a gradual and safe way, driven by revenues, and in the last quarter exceeded the cost of capital R$6.5 bn 4Q25 recurring net income 4Q25 vs. 3Q25 (q/q) 4Q25 ...

São Paulo, February 5 th, 2026 Structural evolution 40% credit portfolio growth | 2021→2025 19.3% 20.3% 21.0% 22.2% 23.4% 44.0% 41.2% 39.9% 39.5% 38.8% 17.5 20.6 23.3 24.8 28.3 9.3 10.2 12.3 16.6 18.5 26.9 30.8 35.6 41.4 46.8 2021 2022 2023 2024 2025 ROE Efficiency R$ billion Managerial recurring results Value creation Cost of capital 2x +Value Creation 2021→ 2025 (1) Figures before taxes. Includes shares repurchase of R$3 billion, related to 2024 results distribution. 2 Results distribution¹ 2021→2025 >>> ...

Unity Software Inc. (NYSE:U) is one of the best large cap stocks to buy under $50. On January 26, Bank of America reduced its price target for Unity Software to $18 from $21 while maintaining an Underperform rating. This sentiment was announced as part of the firm’s Q4 2025 preview, where BofA stated that Unity Software is priced for perfection, trading at a significant premium compared to large-scale online ad stocks and AppLovin Corp. (NASDAQ:APP). On January 15, Freedom Capital initiated coverage of Un ...

AudioCodes (NasdaqGS:AUDC) Q4 2025 Earnings call February 03, 2026 08:30 AM ET Company ParticipantsJoshua Reilly - Managing DirectorNiran Baruch - VP of Finance and CFORoger Chuchen - VP of Investor RelationsShabtai Adlersberg - CEOOperatorGood morning, ladies and gentlemen. Please remain on the line. Your conference will begin in just a few moments. Please remain on the line. Your conference will begin in just a few moments. Greetings. Welcome to AudioCodes' fourth quarter and full year 2025 earnings confe ...

AudioCodes (NasdaqGS:AUDC) Q4 2025 Earnings call February 03, 2026 08:30 AM ET Company ParticipantsJoshua Reilly - Managing DirectorNiran Baruch - VP of Finance and CFORoger Chuchen - VP of Investor RelationsShabtai Adlersberg - CEOOperatorGood morning, ladies and gentlemen. Please remain on the line. Your conference will begin in just a few moments. Please remain on the line. Your conference will begin in just a few moments. Greetings. Welcome to AudioCodes' Fourth Quarter and Full Year 2025 Earnings Confe ...

AudioCodes (NasdaqGS:AUDC) Q4 2025 Earnings call February 03, 2026 08:30 AM ET Speaker2Good morning, ladies and gentlemen. Please remain on the line. Your conference will begin in just a few moments. Please remain on the line. Your conference will begin in just a few moments. Greetings. Welcome to AudioCodes' fourth quarter and full year 2025 earnings conference call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should ...

Lloyds Banking Group plc (NYSE:LYG) is one of the best undervalued stocks to buy under $10. On January 29, Bank of America Securities reiterated a Hold rating on Lloyds Banking Group plc (NYSE:LYG) and set a price target of p110.00. The rating update came the same day Lloyds Banking Group plc (NYSE:LYG) announced its financial results for 2025. It reported diversified revenue growth across the business, delivering £1.4 billion of annualised additional revenues from strategic initiatives in 2025. Management ...

Core Viewpoint - IBM is positioned as a significant player in the technology and consulting sector, with a focus on cloud computing and artificial intelligence, despite facing challenges in its growth outlook [1][3][6] Group 1: Stock Performance and Analyst Ratings - Wedbush has maintained an "Outperform" rating for IBM and raised its price target from $325 to $340, indicating confidence in the company's potential for stock growth [2][6] - On the day of the announcement, IBM's stock price increased by 0.10%, or $0.30, with fluctuations between $291.26 and $295.90 [5] Group 2: Financial Performance and Growth Projections - IBM reported solid fourth-quarter results but projected only a 5% sales growth for 2026, raising concerns among investors [3][6] - The company recently completed an $11 billion acquisition of Confluent, which adds to the uncertainty regarding its growth trajectory, especially as growth from the previous acquisition, Red Hat, is slowing [3][6] Group 3: AI and Consulting Services - IBM has a strong GenAI order book valued at $12.5 billion, although most of this revenue is derived from consulting services, which only grew by 1% [4][6] - The demand for AI cloud services remains high, which could positively impact IBM's future performance [4]

Royal Caribbean Cruises (NYSE:RCL) Q4 2025 Earnings call January 29, 2026 10:00 AM ET Company ParticipantsBlake Vanier - VP of Investor RelationsBrandt Montour - Director of Equity ResearchConor Cunningham - DirectorDavid Katz - Managing DirectorJason Liberty - Chairman and CEOMichael Bayley - President and CEONaftali Holtz - CFORobin Farley - Managing DirectorSteve Wieczynski - Managing DirectorConference Call ParticipantsJames Hardiman - Leisure and Travel AnalystLizzie Dove - VP and Equity Research Analy ...

Financial Data and Key Metrics Changes - In 2025, the company achieved nearly $18 billion in total revenue, with a 33% year-over-year earnings growth and a record 9.4 million vacations delivered [4][19] - Adjusted earnings per share (EPS) for the fourth quarter was $2.80, exceeding guidance, while full-year adjusted EPS grew 33% to $15.64 [8][19] - Operating cash flow for the year was approximately $6.5 billion, with $2 billion returned to shareholders through dividends and share buybacks [4][19] Business Line Data and Key Metrics Changes - The fourth quarter saw net yields grow by 2.5% on a constant currency basis, driven by both new and existing hardware [18] - Total revenue growth in the fourth quarter was 13%, with adjusted EBITDA growing by 17.6% to just over $7 billion [18][19] - The company is expanding its Celebrity River Cruises fleet with a commitment for 10 additional ships, increasing the fleet to 20 vessels by 2031 [5][15] Market Data and Key Metrics Changes - The Caribbean represents 57% of the company's capacity, with an 8% growth compared to last year, and Caribbean yields have increased by 35% since 2019 [21] - European capacity is growing by 5% year-over-year, with strong demand from both American and European consumers [22] - Alaska is expected to account for 5% of total capacity, up 3% from last year, with premium hardware deployed in the region [22] Company Strategy and Development Direction - The company is focused on creating a lifetime of vacations for guests by strengthening its ecosystem, which includes differentiated experiences, exclusive destinations, and an industry-leading loyalty program [13][14] - Investments in technology and AI are aimed at enhancing guest experiences and operational efficiency, with a 25% year-over-year increase in active users on the app [15][16] - The launch of the new Discovery Class ships is part of the company's innovation roadmap to enhance guest experiences and maintain leadership in the vacation space [6][53] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 2027 financial targets, with a strong start to 2026 and record booking rates [10][12] - The company anticipates double-digit revenue growth for 2026, with adjusted EPS expected to be in the range of $17.70-$18.10, representing a 14% year-over-year increase [13][25] - Management noted that consumer demand remains strong, with 40% of consumers planning to increase leisure travel spending in the next year [11] Other Important Information - The company is committed to investing $5 billion in strategic growth initiatives while maintaining an investment-grade balance sheet [25][26] - Fuel efficiency is improving, with a projected fuel expense of approximately $1.17 billion for the year, and 60% of fuel consumption is hedged [24] Q&A Session Summary Question: Can you elaborate on the further acceleration and momentum into 2026? - Management noted strong consumer demand and an increase in loyalty program participation, which is driving high-quality demand [30][31] Question: What is the current state of the Caribbean market regarding pricing and capacity? - Management indicated strong demand trends in the Caribbean, with pricing higher than last year, despite concerns about increased capacity [36][39] Question: How does the company view its organic versus inorganic growth? - Management stated that half of the yield growth will come from new hardware, with the other half from like-for-like improvements [42][44] Question: Can you discuss the new Discovery Class ship order? - Management expressed excitement about the Discovery Class ships, indicating they will be a game changer, but provided limited details at this time [51][53] Question: What is the outlook for net cruise costs? - Management expects net cruise costs to follow their established formula, with a focus on maintaining a spread between yield growth and cost growth [54][55]