Market Overview

Recap: Wells Fargo Q3 Earnings

Share:

Shares of Wells Fargo (NYSE:WFC) decreased 1.7% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share decreased 60.75% over the past year to $0.42, which missed the estimate of $0.45.

Revenue of $18,862,000,000 decreased by 14.30% from the same period last year, which beat the estimate of $17,970,000,000.

Outlook

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

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

Conference Call Details

Date: Oct 14, 2020

Time: 10:00 AM

ET Webcast URL: https://engage.vevent.com/index.jsp?eid=3946&seid=523

Price Action

52-week high: $54.75

Company's 52-week low was at $22.00

Price action over last quarter: down 3.94%

Company Profile

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.

 

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