Wells Fargo (NYSE: WFC) reported a loss of $2.4 billion or $0.66 per share for the second quarter of 2020, hurt by $8.4 billion increase of credit loss reserves in the quarter. Revenue declined 17% to $17.8 billion. Wall Street had expected the banking firm to report a loss of $0.20 per share on revenue of $18.4 billion. WFC shares dropped about 3% in the before market session.
Wells Fargo also announced that it expects to reduce third quarter 2020 common stock dividend to $0.10 per share from $0.51 per share.
Peers JPMorgan Chase (JPM) and Citigroup (C) also reported their Q2 earnings results today. While JPM stock increased about 1%, shares of Citigroup were trading in the red zone during the pre-market session.
Autodesk, Inc. (NASDAQ: ADSK) today reported its fourth quarter financial results for the period ended January 31, 2021. Net income for the fourth quarter was $911.3 million, or $4.10 per
Beyond Meat (NASDAQ: BYND), a specialist in plant-based meat substitutes, Thursday reported a wider loss for the fourth quarter, despite an increase in revenues. The numbers also missed the consensus
Virgin Galactic (NYSE: SPCE) reported fourth-quarter 2020 financial results after the regular market hours on Thursday. The space tourism company reported zero revenue in the fourth quarter, compared to $529,000