Wells Fargo & Co Reports Decline In Q2 Earnings

Wells Fargo & Co (WFC) revealed earnings for second quarter that fell from last year.

The company’s profit totaled $5.19 billion, or $0.98 per share. This compares with $5.86 billion, or $1.07 per share, in last year’s second quarter.

Analysts had expected the company to earn $1.12 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 3.1% to $21.55 billion from $22.23 billion last year.

Wells Fargo & Co earnings at a glance:

-Earnings (Q2): $5.19 Bln. vs. $5.86 Bln. last year.
-EPS (Q2): $0.98 vs. $1.07 last year.
-Analysts Estimate: $1.12
-Revenue (Q2): $21.55 Bln vs. $22.23 Bln last year.

by RTTNews Staff Writer

Source: Read Full Article