Wells Fargo and Diversified Banks Stocks Report Strong Q2 Earnings

Earnings
โดย Yahoo Finance·Read original
Summary · why it matters

The seven diversified banks stocks tracked by this publication reported a strong second quarter, with revenues beating analysts' consensus estimates by 4.6%. Wells Fargo posted revenues of $22.7 billion, up 8.6% year on year and exceeding expectations by 3.9%, while Citigroup delivered the best performance with revenues of $24.79 billion, a 14.3% increase that beat estimates by 4.5%. U.S. Bancorp was the weakest, with revenues of $7.76 billion up 9.9% but a miss on tangible book value per share. Bank of America reported revenues of $31.78 billion, up 15% and beating estimates by 3.3%, and Truist Financial had the slowest revenue growth at 5.1% to $5.31 billion. Despite the strong results, the group's share prices have collectively declined 1.2% on average since the latest earnings.

Impact on stocks 5

Financials▲ · 4 stocks
Bank of America Corp
BAC
▲ PositiveCapitalrelevance

Bank of America reported revenues of $31.78 billion, up 15% and beating estimates by 3.3%.

Wells Fargo & Company
WFC
▲ PositiveCapitalrelevance

Wells Fargo posted revenues of $22.7 billion, up 8.6% year on year and exceeding expectations by 3.9%.

Truist Financial Corp
TFC
▲ PositiveCapitalrelevance

Truist Financial had the slowest revenue growth at 5.1% to $5.31 billion, but still beat estimates.

U.S. Bancorp
USB
± MixedCapitalrelevance

U.S. Bancorp reported revenues of $7.76 billion up 9.9% but missed on tangible book value per share.

Digital Finance & Tokenization▲ · 1 stocks
Citigroup Inc.
C
▲ PositiveCapitalrelevance

Citigroup delivered the best performance with revenues of $24.79 billion, a 14.3% increase that beat estimates by 4.5%.

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