Earnings: Wells Fargo (WFC) turns to profit in Q2; results beat estimates

Wells Fargo & Company (NYSE: WFC), a leading investment bank, Wednesday reported a profit for the second quarter of 2021, compared to a loss last year, amid strong revenue growth. The results also exceeded Wall Street’s projection. Second-quarter profit increased to $6.04 billion or $1.38 per share from a loss of $3.85 billion or $1.01 […]

$WFC

July 14, 2021 1 min read

Wells Fargo & Company (NYSE: WFC), a leading investment bank, Wednesday reported a profit for the second quarter of 2021, compared to a loss last year, amid strong revenue growth. The results also exceeded Wall Street’s projection. Second-quarter profit increased to $6.04 billion or $1.38 per share from a loss of $3.85 billion or $1.01 […]

Wells Fargo Q1 2021 earnings infographic

Second-quarter profit increased to $6.04 billion or $1.38 per share from a loss of $3.85 billion or $1.01 per share in the same period of last year. Analysts were looking for a smaller bottom-line number for the latest quarter.

At $20.3 billion, revenues were up 11% from the year-ago period and well above the consensus forecast.

Read management/analysts’ comments on Wells Fargo’s Q2 earnings

The bank’s shares closed Tuesday’s session lower, after gaining 55% in the last six months. The stock gained about 1% early Wednesday soon after the earnings announcement.