Tag: $Wells Fargo

Wells Fargo on Friday reported a 9% decline in net interest income, even though its second-quarter earnings and revenue exceeded Wall Street expectations.

Wells Fargo’s profit fell 7% in the first quarter on Friday as it became more costly to pay customers for deposits and demand from borrowers declined.

Wells Fargoshares fell more than 1% before the bell Friday even after fourth-quarter profit rose from a year ago, as the bank warned that net interest income for 2024 could come in significantly lower year over year.

Wells Fargo on Friday surpassed Wall Street expectations in third-quarter earnings and revenue as the benefit from higher interest rates offset slowing lending activity.

Wells Fargo topped Wall Street estimates on the top and bottom lines for the second quarter.

Wells Fargo & Co has agreed to pay $1 billion to settle a lawsuit accusing it of defrauding shareholders about its progress in recovering from a series of scandals over its treatment of customers.