Wells Fargo’s 2nd-quarter earnings of $5.56 billion miss forecasts
- Share via
SAN FRANCISCO — Wells Fargo & Co. (WFC) on Friday reported second-quarter earnings of $5.56 billion.
The San Francisco-based bank said it had earnings of $1.01 per share.
The results fell short of Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.02 per share.
The biggest U.S. mortgage lender posted revenue of $22.16 billion in the period, also falling short of Street forecasts. Six analysts surveyed by Zacks expected $22.23 billion.
Wells Fargo shares have declined 10 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen roughly 6 percent. The stock has decreased 15 percent in the last 12 months.
ALSO
Lazarus: Britain’s diabetic leader reflects differing healthcare systems
Fox News on-air talent supports Roger Ailes — but where’s Megyn Kelly?
Venture capital deals slow amid doubts about augmented reality’s reach
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
