Earnings

Wells Fargo WFC Q3 2023 earnings

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A Wells Fargo customer uses the ATM at a branch in San Bruno, California, on Aug. 8, 2023.

Justin Sullivan | Getty Images

Wells Fargo on Friday surpassed Wall Street expectations for third-quarter earnings and revenue as the benefit from higher interest rates offset slowing lending activity.

Shares of the bank rose 3.1% following the report.

Wells Fargo posted earnings per share of $1.48 in the quarter, or $1.39 excluding discrete tax benefits. It was unclear what the exact comparable number was to Wall Street’s expectations, but both figures are higher than the LSEG consensus EPS of $1.24. The earnings are also significantly higher than the 86 cents per share earned in the same quarter a…



Source cnbc.com

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