Wells Fargo posts $2 billion profit in 3Q, reversing 2Q loss

Last Updated 4 years ago

SILVER SPRING, Md. — Wells Fargo says it earned $2 billion in the third quarter, less than half of what it made in the same period last year but a significant improvement from this year’s second quarter, when it posted a loss.

The San Francisco bank said Wednesday that it earned 42 cents per share, less than the 44 cents Wall Street analysts were expecting.

Wells reported revenue of $18.86 billion in the quarter, also down from last year’s third quarter when it took in $22 billion.

Wall Street analysts had projected the bank would post $18 billion in revenue.

People are also reading...

SD Weekly Gas Price Update.

South Dakota Gas Prices hold steady over past week

April 22, 2024
Business

UNDATED – Average gasoline prices in South Dakota are unchanged in the last week, averaging $3.34/g today, according to GasBuddy’s survey of 628 stations in South Dakota. Prices in South Dakota are 11.6 cents per gallon higher than a month ago and stand 16.4 cents per gallon lower than a year ago. The national average […]

Outstanding Women in Business Award nominees announced

April 19, 2024
Business

SPEARFISH, S.D. – The finalists for the 12th annual Outstanding Women in Business Awards have been announced, recognizing the dedication, innovation, and community commitment of women across South Dakota. Over 30 women were nominated by their peers for these prestigious awards, designed to highlight the impact of outstanding women entrepreneurs and intrapreneurs across the state. […]