Wells Fargo Q2 Financial Performance and Impact on Shares
Friday, 12 July 2024, 13:41
Wells Fargo Q2 Results
Wells Fargo's Q2 profit declined, missing interest income estimates due to higher deposit costs.
Key Points:
- Net interest income (NII) decreased by 9% to $11.92 billion.
- Michael Santomassimo expects the NII decline to continue around 8-9% for the year.
As a result, Wells Fargo shares dropped more than 5% in premarket trading.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.