Wells Fargo's stock gains as third-quarter earnings top estimates by a wide margin

Wells Fargo & Co.’s stock jumped 2% early Friday, after the bank swept past earnings estimates for the third quarter, buoyed by higher interest rates and trading revenue.

Average loans fell to $943.2 billion in the quarter from $945.5 billion a year ago. Average deposits fell to $1.340 billion from $1.408 billion. Revenue from home lending fell 14% to $840 million from $973 million a year ago, weighed down by lower originations and lower servicing income.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Wells Fargo's stock up 2% as third-quarter earnings top estimates by a wide marginBank beats profit and revenue estimates in latest quarter
Source: MarketWatch - 🏆 3. / 97 Read more »

Stock Market Today: JPMorgan, Wells Fargo Earnings OutOil prices rally, boosting energy companies
Source: WSJ - 🏆 98. / 63 Read more »

Are High Rates Taking a Toll on Consumers? Bank Earnings Will Provide a ClueJPMorgan, Wells Fargo and Citigroup are set to kick off third-quarter bank results Friday
Source: WSJ - 🏆 98. / 63 Read more »

Wells Fargo earnings to highlight consumer lending, commercial real estateWells Fargo earnings are likely to focus on the costs tied to refilling the FDIC's insurance fund, as well as its exposure to commercial real estate and consumer lending.
Source: startelegram - 🏆 248. / 63 Read more »