Banking giant Wells Fargo (NYSE: WFC) reported lower revenues and earnings for the third quarter of 2020. Revenues beat the Street view, while earnings missed. The bank’s stock declined early Wednesday soon after the announcement.
Net revenues were $18.9 billion in the third quarter, down from $22.0 billion in the year-ago period. The top-line came in above analysts’ forecast. Net interest income decreased 19% annually to $9.4 billion.
Read management/analysts’ comments on Wells Fargo’s Q3 earnings
Net profit was $2.0 billion or $0.42 per share in the three-month period, down from $4.6 billion or $0.92 per share a year earlier. Analysts were looking for a higher profit.
Wells Fargo’s stock dropped during Wednesday’s pre-market trading, after closing the previous session down 4%.
Past Performance
Most Popular
CCL Earnings: Highlights of Carnival Corporation’s Q4 2025 results
Cruise operator Carnival Corporation & plc (NYSE: CCL) on Friday reported an increase in revenue and adjusted earnings for the fourth quarter of fiscal 2025. Earnings topped analysts' expectations. Revenues
Lamb Weston (LW) Q2 2026 Earnings: Key financials and quarterly highlights
Lamb Weston Holdings, Inc. (NYSE: LW) reported its second quarter 2026 earnings results today. Net sales inched up 1% year-over-year to $1.62 billion. Net sales at constant currency remained flat.
Paychex reports higher Q2 FY26 revenue and earnings; EPS beats estimates
Paychex Inc. (NASDAQ: PAYX) on Friday reported stronger-than-expected adjusted earnings for the second quarter of fiscal 2026. Revenues grew 18% year-over-year. The Rochester-based human capital management solutions provider reported revenues
