Wells Fargo Returns to Profitability as Pandemic Hit Subsides
October 14 2020 - 8:37AM
Dow Jones News
By Ben Eisen
Wells Fargo & Co. said Wednesday that its third-quarter
profit fell 56%.
The San Francisco-based lender said it made $2.04 billion in the
third quarter, down from a profit of $4.61 billion a year earlier.
Per-share earnings were 42 cents. Analysts polled by FactSet had
expected 44 cents.
Still, the results were an improvement from the second quarter,
when the bank lost $2.38 billion as it set aside money for
potential bad loans.
Write to Ben Eisen at ben.eisen@wsj.com
(END) Dow Jones Newswires
October 14, 2020 08:22 ET (12:22 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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