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Wells Fargo shares slammed as earnings report disappoints

July 14, 2017

Via: CNBC

Wells Fargo, the third-largest U.S. bank by assets, easily beat Wall Street expectations with second-quarter earnings of $1.07 per share but revenue was light and shares fell.

The premarket decline in the stock price wiped out Wells’ gains for the year.

The bank had been expected to show profit of $1.01 per share on revenue of $22.47 billion. Revenue came in at $22.17 billion. Shares dropped more than 1 percent in premarket trading following the release.

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