Wells Fargo: Q2 Earnings Snapshot
By AP News
Published - Jul 14, 2023, 07:00 AM ET
Last Updated - Jul 14, 2023, 07:00 AM EDT
SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Wells Fargo & Co. (WFC) on Friday reported second-quarter net income of $4.94 billion.
The bank, based in San Francisco, said it had earnings of $1.25 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.
The biggest U.S. mortgage lender posted revenue of $28.2 billion in the period. Its revenue net of interest expense was $20.53 billion, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $20.27 billion.
