Shares of Wells Fargo & Company (WFC) lost 5% in the pre-market session as investors expressed concern regarding the decline in the loan balance. Its second-quarter 2024 earnings per share of $1.33 surpassed the Zacks Consensus Estimate of $1.27. In the prior-year quarter, the company reported earnings per share of $1.25.Results benefited from higher non-interest income. An improvement in capital ratios and a decline in provisions were other positives. However, the decrease in net interest income (NII), as ...

Wells Fargo (WFC) reported $20.69 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 0.8%. EPS of $1.33 for the same period compares to $1.25 a year ago.The reported revenue represents a surprise of +2.05% over the Zacks Consensus Estimate of $20.27 billion. With the consensus EPS estimate being $1.27, the EPS surprise was +4.72%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street e ...

KEY TAKEAWAYSWells Fargo shares sank Friday after the lender reported a slump in second-quarter net interest income that offset higher-than-forecast results.Net interest income, a key measure of lending profitability, fell about 9% year-over-year to $11.9 billion during the three months ended June 30. The slump in net interest income overshadowed results that beat Wall Street analysts' estimates. Wells Fargo (WFC) shares sank Friday after the lender reported a slump in second-quarter net interest income tha ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Wells Fargo (WFC) came out with quarterly earnings of $1.33 per share, beating the Zacks Consensus Estimate of $1.27 per share. This compares to earnings of $1.25 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.72%. A quarter ago, it was expected that this biggest U.S. mortgage lender would post earnings of $1.10 per share when it actually produced earnings of $1.26, delivering a surprise of 14.55%.Over the last four quarter ...

Wells Fargo bank signage is seen on Broadway on April 12, 2024 in New York City.Wells Fargo on Friday reported a 9% decline in net interest income, even though its second-quarter earnings and revenue exceeded Wall Street expectations.Here's what the bank did compared to Wall Street estimates, based on a survey of analysts by LSEG:Earnings per share: $1.33 versus $1.29 cents expectedRevenue: $20.69 billion versus $20.29 billion expectedThe San Francisco-based bank recorded $11.92 billion in net interest inco ...

Exhibit 99.2 2Q24 Quarterly Supplement Wells Fargo & Company and Subsidiaries QUARTERLY FINANCIAL DATA TABLE OF CONTENTS | --- | --- | |----------------------------------------------------------------------------------------------------|-------| | | Page | | Consolidated Results | | | Summary Financial Data | 3 | | Consolidated Statement of Income | 5 | | Consolidated Balance Sheet | 6 | | Average Balances and Interest Rates (Taxable-Equivalent Basis) | 7 | | Reportable Operating Segment Results | | | Combi ...

Key TakeawaysCiti, Wells Fargo and JPMorgan Chase will report earnings on Friday, with Bank of America to follow on Tuesday.Investors will be watching banks' levels and forecasts for net interest income, a key measure of lending profitability.Analysts expect some banks to slow plans for stock buybacks. Big bank earnings kick off Friday with Citi (C), Wells Fargo (WFC) and JPMorgan Chase (JPM) reporting their second-quarter results. Bank of America (BAC) is set to follow on Tuesday. Analysts expect few surp ...

Wall Street analysts expect Wells Fargo (WFC) to post quarterly earnings of $1.27 per share in its upcoming report, which indicates a year-over-year increase of 1.6%. Revenues are expected to be $20.28 billion, down 1.2% from the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 1.9% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Ahead of a company's earnings d ...

Wells Fargo & Company (WFC) is slated to report second-quarter 2024 results on Jul 12, before the market opens. WFC has an impressive earnings surprise history. The company’s earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, with an earnings surprise of 11.42%, on average.Image Source: Zacks Investment ResearchThis time, decent loan demand, higher rates, and modest mortgage banking performance are expected to aid the top line. In contrast, weakness in the company’s invest ...