Wells Fargo Posts $2 Billion Profit In 3Q, Reversing 2Q Loss

Wells reported revenue of $18.86 billion in the quarter, also down from last year’s third quarter when it took in $22 billion. Wall Street analysts had projected the bank would post $18 billion in revenue.

Wells Fargo said its net interest income was $9.4 billion, down $2.3 billion from last year’s period. Noninterest income of was $9.5 billion, down $891 million from 2019.

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