Wells Fargo (WFC) – Get Report posted third-quarter earnings that missed analysts’ forecasts as low interest rates resulted in a drop in net interest income, and on higher-than-expected pandemic-related operational costs.
The San Francisco-based bank reported net income of $2.04 billion, or 42 cents a share, for the third quarter, vs. $4.61 billion, or 92 cents a share, in the comparable year-earlier quarter. Analysts polled by FactSet had been looking for earnings of 44 cents a share.
