Categories AlphaGraphs, Finance

WFC Earnings: Key quarterly highlights from Wells Fargo’s Q2 2023 financial results

Wells Fargo & Company (NYSE: WFC) reported second quarter 2023 earnings results today.

Total revenue increased 20% year-over-year to $20.5 billion.

Net income grew 57% to $4.93 billion while EPS rose 67% to $1.25.

Both the top and bottom line numbers beat estimates.

Average loans increased 2% YoY to $945.9 billion while average deposits were down 7% to $1.34 trillion.

The stock was up 3% in premarket hours on Friday following the earnings report.

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