Wells Fargo: Quarterly EPS beats expectations
(CercleFinance.com) - Wells Fargo unveils net profits up 19% to 6.
2 billion dollars in the second quarter of 2019. Up one third to 1.30 dollar, EPS beat consensus by 14 cents.
The San-Francisco-based financial institution earned stable revenues at 21.6 billion dollars, with net interest income down approximately 4%, albeit compensated by growth of other revenue.
CFO John Shrewsberry comments “We grew period-end loans and deposits, as well as pre-tax pre-provision”, also citing the bank's plan to increase its quarterly dividend rate in the third quarter to 51 cents after receiving the green light from the Fed.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
2 billion dollars in the second quarter of 2019. Up one third to 1.30 dollar, EPS beat consensus by 14 cents.
The San-Francisco-based financial institution earned stable revenues at 21.6 billion dollars, with net interest income down approximately 4%, albeit compensated by growth of other revenue.
CFO John Shrewsberry comments “We grew period-end loans and deposits, as well as pre-tax pre-provision”, also citing the bank's plan to increase its quarterly dividend rate in the third quarter to 51 cents after receiving the green light from the Fed.
Copyright (c) 2019 CercleFinance.com. All rights reserved.