Categories AlphaGraphs, Earnings, Finance

Wells Fargo (WFC) stock falls after Q3 earnings miss view

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.

Wells Fargo Q3 2020 earnings Infographic

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

  • Wells Fargo (WFC) Q2 2020 Earnings Infograph
  • wells fargo wfc q3 2019 earnings results. wells fargo reported mixed bag

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