Wells Fargo Beats Q2 Earnings Expectations... Revenue Up 11% Year-Over-Year
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[Asia Economy Reporter Kim Suhwan] U.S. financial group Wells Fargo announced second-quarter results for this year on the 14th (local time) that exceeded expectations.
According to Wells Fargo's announcement, it posted revenue of $20.3 billion (approximately 23.345 trillion KRW) in the second quarter. This is an 11% increase compared to the same period last year and surpasses the market forecast of $17.8 billion (approximately 20.47 trillion KRW).
Additionally, Wells Fargo reported an operating profit of $6.04 billion (approximately 6.946 trillion KRW) for the second quarter. The earnings per share amounted to $1.38, exceeding the market forecast of $0.97.
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During the same period last year, Wells Fargo recorded an operating loss of about $3.8 billion.
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