Wells Fargo reports $2.00 GAAP EPS, beating estimates by $0.28
Wells Fargo’s Q2 GAAP EPS of $2.00 exceeded expectations by $0.28. The company also reported revenue of $22.62B, an 8.6% year-over-year increase.
The revenue beat estimates by $770M. Discrete tax benefits of $132 million, or $0.04 per share, contributed to the earnings.
The company’s revenue growth was driven by a 9% increase from the prior period.