Wells Fargo’s total revenue increased 8.6% year over year to $22.62 billion
Wells Fargo’s second-quarter earnings report showed a strong performance, with total revenue increasing 8.6% year over year to $22.62 billion.
The bank’s earnings per share rose 25% to $2, outpacing the consensus estimate of $1.71.
Despite the strong earnings report, Wells Fargo’s stock price declined nearly 3% in afternoon trading, and is down roughly 8% year to date.
The stock had gained 20% since its 52-week low of $73 on May 15, but remains below the $95-per-share price target.