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Posted by
Two Blokes Jul 15 -
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Wells Fargo & Co (NYSE:WFC, ETR:NWT) on Tuesday reported better-than-expected second-quarter earnings, driven by lower credit loss provisions and higher fee-based income, though shares fell 4.5% in early trading as investors reacted to a downward revision in the bank's full-year net interest income (NII) guidance. The San Francisco-based lender posted earnings per share of $1.60, exceeding analysts' expectations of $1.40 and rising 20% from a year ago.