Reported about 3 hours ago
Wells Fargo exceeded profit expectations in the third quarter, largely driven by reduced provisions for credit losses and strong performance in wealth management, which lifted shares by 3.5%. However, the bank anticipates a significant 9% decline in interest income for 2024, attributed to a recent rate cut by the Federal Reserve, and reported revenues fell by 2% to $20.37 billion during the quarter.
Source: YAHOO