Wells Fargo (NYSE:WFC) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$19.3b (down 1.8% from 3Q 2023).
• Net income: US$4.85b (down 11% from 3Q 2023).
• Profit margin: 25% (down from 28% in 3Q 2023). The decrease in margin was primarily driven by lower revenue.
• EPS: US$1.43 (down from US$1.49 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Wells Fargo EPS Beats Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 10%.

Looking ahead, revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Banks industry in the US.

The company's shares are up 7.1% from a week ago.

Risk Analysis

You should always think about risks.

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