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 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.
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.
Stocks you may like:
The business world is still struggling to come out of the virus-induced slowdown, but it seems almost every retail segment benefited from the pandemic at some point. The vaccination drive
General Mills (GIS): Three factors that are expected to help drive growth for the food company going forward
Shares of General Mills Inc. (NYSE: GIS) were up 3.2% on Wednesday after the company delivered better-than-expected results for the first quarter of 2022. Net sales rose 4% year-over-year to
It is estimated that the alternative investments industry has expanded at a compound annual rate of 10.2% over the past ten years and had $11 trillion in assets under management