Recap: Wells Fargo Q2 Earnings

Shares of Wells Fargo WFC decreased 3.4% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share fell 150.77% over the past year to ($0.66), which missed the estimate of ($0.20).

Revenue of $17,836,000,000 declined by 17.36% year over year, which missed the estimate of $18,400,000,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Wells Fargo hasn't issued any revenue guidance for the time being.

How To Listen To The Conference Call

Date: Jul 14, 2020

Time: 11:00 AM

ET Webcast URL: https://engage.vevent.com/index.jsp?eid=3946&seid=518

Recent Stock Performance

Company's 52-week high was at $54.75

52-week low: $22.00

Price action over last quarter: down 14.56%

Company Description

Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company is split into three segments for reporting purposes: community banking; wholesale banking; and wealth and investment management. The community banking segment serves consumers and small businesses with products including deposit accounts, credit and debit cards, and student, mortgage, and home equity loans. Wholesale banking includes corporate and commercial real estate lending, asset-based lending and trade financing, merchant services, and capital markets businesses. Wealth and investment management includes advisory, brokerage, retirement, and trust services. The bulk of Wells' lending takes place in the U.S.