Wells Fargo (WFC) July 12 weekly 60 straddle priced into quarter results

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Go back to Wells Fargo (WFC) July 12 weekly 60 straddle priced into quarter results

Wells Fargo (WFC) stock falls as Q2 net interest income decreases due to higher rates

July 12, 2024 7:31 AM EDT

Wells Fargo (NYSE: WFC) reported a second-quarter earnings beat, with an adjusted EPS of $1.33, surpassing the analyst consensus of $1.28. Despite the positive earnings surprise, the bank's stock experienced a notable decline, falling 5.57% following the announcement.

CEO Charlie Scharf highlighted the bank's transformation efforts, which were evident in the growth of fee-based revenue, strong performance in investment advisory, trading, and investment banking fees.

However, net interest income saw a 9%... More