Wells Fargo reported Q2/15 earnings of $5.7 billion were about the same as Q2/14 and matched analysts’ expectations. Total sequential loan growth of $27.2 billion included $11.5 billion from a GE Capital loan purchase.
Wells Fargo reported net income of $5.7 billion for Q2/15, essentially matching Q2/14, but dropping slightly from the $5.8 billion for Q1/15. Earnings per share of $1.03 in Q2/15 matched analysts’ expectations.
Highlights from Q2/15 news release included:
“Wells Fargo’s second quarter results reflected continued strength in the fundamental drivers of long term growth,” said chairman and CEO John Stumpf. “Compared with a year ago, we grew loans, deposits and capital, and our balance sheet remained strong. Credit results also improved and we continued to adhere to our disciplined approach to risk management. As the economic and interest rate environments evolved, our diversified business model continued to generate strong results for shareholders, and we were pleased to increase our common stock dividend 7% in the second quarter, to $0.375 per share. Wells Fargo is well positioned for the future and I remain confident in the ability of our 266,000 team members to help our customers succeed financially and to serve our communities.”
The full Wells Fargo release can be read here.
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