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Wells Fargo, JPMorgan, Other Banks Expected to Post Revenue Drop

July 9, 2021

Via: TheStreet

The six biggest U.S. banks, including JPMorgan Chase (JPM) – Get Report and Wells Fargo (WFC) – Get Report, are scheduled to report second-quarter earnings next month, and the results aren’t expected to be pretty.

The six behemoths will produce a combined revenue decline of about 5% in the quarter compared with a year earlier, analysts surveyed by Bloomberg estimate.

The No. 1 problem will be trading revenue, which analysts estimate dropped 28% in the quarter for the top investment banks, Bloomberg reports.

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