“Wells Fargo shares tumble after net interest income falls short of estimates” [Jul 12 2024]
July 26, 2024
“…
- In the second quarter, Wells Fargo recorded $11.92 billion in net interest income, a key measure of what a bank makes on lending, marking a 9% year-over-year decline.
- That was below the $12.12 billion expected by analysts, according to FactSet. The bank said the drop was due to the impact of higher interest rates on funding costs.
- Wells Fargo’s second-quarter earnings and revenue exceeded Wall Street expectations.
…”
https://www.cnbc.com/2024/07/12/wells-fargo-wfc-q2-2024-earnings.html