Wells Fargo & Co Q2 Profit Falls, misses estimates

Wells Fargo & Co (WFC) announced earnings for second quarter that decreased from last year and missed the Street estimates.

The company's earnings totaled $3.12 billion, or $0.74 per share. This compares with $6.04 billion, or $1.38 per share, in last year's second quarter.

Analysts on average had expected the company to earn $0.86 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 16.0% to $17.03 billion from $20.27 billion last year.

Wells Fargo & Co earnings at a glance (GAAP) :

-Earnings (Q2): $3.12 Bln. vs. $6.04 Bln. last year.
-EPS (Q2): $0.74 vs. $1.38 last year.
-Analyst Estimates: $0.86
-Revenue (Q2): $17.03 Bln vs. $20.27 Bln last year.

For comments and feedback contact: editorial@rttnews.com

Follow RTT