Wells Fargo profit beats forecasts as provisions shrink, shares rise

Oct 11, 2024 · WELLS Fargo’s profit beat analysts’ expectations in the third quarter, helped by resilience in wealth management and lower provisions for credit losses, which sent its shares …

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Wells Fargo Profit Beats Estimates As Shares Swing On Interest …

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Apr 12, 2024 · Wells Fargo's adjusted profit of $1.26 per share came in ahead of analysts' estimates of $1.11, according to LSEG data, helped by revenue in corporate and investment …

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Wells Fargo Profit Beats Forecasts As Provisions Shrink, Shares Rise ...

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Oct 11, 2024 · Wells Fargo set aside $1.07 billion in provisions to cover souring loans. That compared with $1.20 billion a year earlier. JPMorgan Chase (NYSE: JPM)’s profit dropped in …

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Wells Fargo Lifts Interest Income Forecast As Profit Exceeds Estimates

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Oct 13, 2023 · Wells Fargo, which is working to fix a six-year-old scandal over sales practices, said provision for credit losses in the quarter included a $333 million rise in the allowance for …

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Wells Fargo Profit Beats Forecasts As Provisions Shrink, Shares Rise ...

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The fourth-largest US lender reported third-quarter earnings per share of US$1.52, compared with expectations of US$1.28, according to data from LSEG. Wells Fargo’s net interest income – or …

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Here's What To Expect From Wells Fargo’s Next Earnings Report

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16 hours ago · Ahead of the event, analysts expect WFC to report a profit of $1.33 per share on a diluted basis, up 3.1% from $1.29 per share in the year-ago quarter. The company has …

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FAQs about Wells Fargo profit beats forecasts as provisions shrink, shares rise Coupon?

Did Wells Fargo's profit beat analysts expectations in the third quarter?

Wells Fargo's profit beat analysts expectations in the third quarter as it set aside less money than expected to cover potential loan losses and predicted its interest income would stabilize, sending shares up 6% on Friday. ...

Why did Wells Fargo's profit fall 7% in the first quarter?

By Saeed Azhar, Noor Zainab Hussain and Manya Saini (Reuters) -Wells Fargo's profit fell 7% in the first quarter, beating analysts' forecasts, as it paid more to hold customer deposits while demand from borrowers declined. Its stock slid 2.1% after swinging between gains and losses. ...

Why did Wells Fargo stock rise 2% in premarket trading?

Shares of Wells Fargo rose 2% in premarket trading after the results. The bank is working to fix a six-year-old scandal over sales practices that led to hefty fines and an asset cap imposed by the Fed. ...

How has Wells Fargo impacted borrowers?

The bank's loans to borrowers fell to $910.3 billion versus $943.2 billion a year earlier. Loan demand has been subdued as higher interest rates deterred commercial and consumer borrowers. At the same time, banks have had to compete for deposits by paying clients more. Wells Fargo set aside $1.07 billion in provisions to cover souring loans. ...

How much did Wells Fargo earn in the third quarter?

Wells Fargo's net interest income — or the difference between what it earns on loans and pays out for deposits — dropped 11% to $11.69 billion in the third quarter. Analysts on average had predicted $11.87 billion, according to estimates compiled by LSEG. ...

How does the slowing economy impact Wells Fargo?

"While the economy has continued to be resilient, we are seeing the impact of the slowing economy with loan balances declining and charge-offs continuing to deteriorate modestly," CEO Charlie Scharf said in a statement. Shares of Wells Fargo rose 2% in premarket trading after the results. ...