Wells Fargo WFC earnings Q1 2023


Wells Fargo shares rise after bank's first quarter profit and revenue top the Street

Wells Fargo reported growing profits Friday as the bank benefited from higher interest rates, despite building up loan loss reserves.

Here’s how Wells Fargo did in the first quarter compared with Refinitiv estimates:

  • Earnings per share: $1.23 per share GAAP versus 90 cents a year ago and $1.13 expected.
  • Revenue: $20.73 billion versus $20.08 billion expected.

related investing news

Wells Fargo gives up gains despite earnings beat. We see a buying opportunity

CNBC Investing Club

The bank’s shares climbed 1% initially but closed Friday’s session 0.1% lower.

Wells Fargo increased its net income by more than 30% to nearly $5 billion in the first quarter from a year ago. The bank said its net interest income, what it makes lending money minus what it pays out to customers, increased 45% on the…

Source cnbc.com

0 0 votes
Article Rating

ECB policymakers are rethinking rate hikes after banking turmoil

Previous article

April homebuilder sentiment rises as builders grab near record market share

Next article

You may also like

Notify of
Inline Feedbacks
View all comments

More in Earnings