Wells Fargo Has Mixed Earnings

Wells Fargo (WFC) released mixed earnings this morning.

For Q3, the bank earned $1.03 per share which beat estimates by two cents per share. Total revenue of $22.328 billion was slightly higher than the expected $22.21 billion. Yet current-quarter net income fell to $5.64 billion from $5.8 billion in Q3 2015, a 3% decline.

WFC said total average loans were up $62.4 billion, or 7%, to $957.5 billion over the third quarter one year ago. Total average deposits were also up $62.7 billion to $1.3 trillion, 5% higher than Q3 2015.

Posted by on October 14th, 2016 at 11:38 am


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