Financial Reporting
Coinbase names former X Corp. CFO to board
Coinbase announced in a securities filing and blog post on Wednesday that it has appointed Anthony Armstrong to its board of directors, effective immediately. Armstrong previously served as CFO of xAI and X Corp. and also worked at Morgan Stanley. He will join the audit committee and will receive an initial restricted stock unit award under the non-employee director compensation plan.
Inside OpenAI’s experiment with AI coding in finance
OpenAI finance executive Kyle Kober used the AI coding tool Codex to automate the cost reporting process, reducing the time from days to hours, reflecting a new trend of AI programming in the finance sector.
CFO Dive Trendline on Top 5 stories from CFO Dive
Artificial intelligence is penetrating enterprise operations at an unprecedented pace. CFOs driving AI adoption must confront multiple risks, including return on investment, data quality, governance, and compliance. This article compiles insights from CFOs at companies such as Nintex, Fullstory, and Pipedrive, as well as industry experts, listing seven key risk points and exploring how to maintain prudence and flexibility amid rapid change.
Nvidia CFO predicts 70% revenue jump for fiscal 2028
Nvidia reported revenue of $96.2 billion in the second quarter of fiscal 2027, up 106% year-over-year. The company provided its first full-year guidance, expecting 70% revenue growth in fiscal 2028. CFO Colette Kress noted that surging AI demand is driving growth, but tight memory supply and rising costs remain challenges.
Intuit expects 2027 revenue to ‘decelerate,’ CFO says
Intuit provided guidance for fiscal 2027 during its fourth-quarter and full-year fiscal 2026 earnings call, projecting revenue between $23.2 billion and $23.5 billion, a growth rate of 9%-10%, a significant slowdown from the 14% growth in fiscal 2026. CFO Sandeep Aujla stated that the slowdown is mainly affected by the Desktop Ecosystem, TurboTax, and Credit Karma, but the company is 'resetting expectations' through AI investment and strategic adjustments. Additionally, Intuit will report Mailchimp as a separate operating segment and will stop excluding stock-based compensation expenses from non-GAAP metrics.
Targa grants new CFO hefty long-term incentive
Targa Resources announced in a filing with the U.S. Securities and Exchange Commission the appointment of Benjamin J. Branstetter as Chief Financial Officer, effective September 1, along with a substantial long-term incentive. Current CFO William Byers will retire, and the company has also adjusted other executive positions.
CFOs must build ‘strong disclosure’ AI processes: FMI
Artificial intelligence is transforming traditional manual tasks such as financial modeling, but Ian Schnoor, Executive Director of the Financial Modeling Institute (FMI), cautions that CFOs must establish governance and ethical processes around AI, clarifying how AI is used and the extent of human involvement, to maintain model credibility and mitigate risks.
Former tobacco CFO takes Coty finance reins
Coty announced that Soraya Benchikh, who previously served as CFO at British American Tobacco, will take over as its chief financial officer on September 1. She succeeds Laurent Mercier, who held the role for five years. The appointment aligns with the company's renewed operating structure and comes as Coty reports mixed quarterly results, with sales growth but persistent gaps between sell-in and sell-out performance.