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Wells Fargo’s stock falls after another disappointing outlook, hawkish rate view
Shares of Well Fargo & Co. sank Tuesday after yet another disappointing earnings report and conference call with analysts, as downbeat guidance on net interest income and expenses, and still no word on a new chief executive, overshadowed profit and revenue beats.
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Earlier, the bank reported second-quarter net income of $6.2 billion, or $1.30 a share, in the second quarter, up from $5.2 billion, or 98 cents a share, in the year-earlier period, to beat expectations of $1.30 a share, according to FactSet. Revenue was unchanged at $21.6 billion but was above expectations of $20.9 billion.
Net interest income (NII) fell 3.6% to $12.10 billion, to miss the FactSet consensus of $12.20 billion.
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https://www.marketwatch.com/story/wells-...yptr=yahoo
![[Bild: WFCc1dl0251.png]](https://finviz.com/publish/071719/WFCc1dl0251.png)
Shares of Well Fargo & Co. sank Tuesday after yet another disappointing earnings report and conference call with analysts, as downbeat guidance on net interest income and expenses, and still no word on a new chief executive, overshadowed profit and revenue beats.
...
Earlier, the bank reported second-quarter net income of $6.2 billion, or $1.30 a share, in the second quarter, up from $5.2 billion, or 98 cents a share, in the year-earlier period, to beat expectations of $1.30 a share, according to FactSet. Revenue was unchanged at $21.6 billion but was above expectations of $20.9 billion.
Net interest income (NII) fell 3.6% to $12.10 billion, to miss the FactSet consensus of $12.20 billion.
...
https://www.marketwatch.com/story/wells-...yptr=yahoo
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