Wells Fargo reported Q2/17 net income of $5.8 billion was up 5% from $5.6 billion for the same quarter in 2016. Total revenue of $22.2 billion was essentially flat compared to Q2/16.
The following highlights were excerpted from the news release:
CEO Tim Sloan said, “Second quarter 2017 results demonstrated the benefit of our diversified business model as we continued to generate strong financial results, invest for the future, and adhere to our prudent risk discipline. We remain committed to reducing expenses and improving the efficiency of our company, and we are very focused on our recently announced goals. As we work to improve our efficiency, we will also continue to innovate for the future. We recently advanced a number of important customer-focused initiatives, such as the launch of the Zelle SM person-to-person payment platform to our 28 million digital customers.”
Monitor 100 2017
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