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Wells Fargo (WFC) reported better-than-expected quarterly earnings, though CEO Charlie Scharf said the bank is bracing for a slower economy this year amid worries President Donald Trump's tariffs could slow economic growth.
Net interest income, a key measure of what a bank makes on loans, fell 6% year over year to $11.50 billion,
CNBC's Leslie Picker reports on news regarding Wells Fargo's quarterly earnings results.
Wells Fargo booked a bigger profit in the first quarter, which ended just before President Trump's tariffs set off market turmoil.
Shares of Wells Fargo & Co. WFC edged up 0.9% in premarket trading Friday, after the bank topped first-quarter profit expectations, to offset revenue that disappointed due to weakness in consumer and commercial banking.
SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company (NYSE: WFC) has released its first quarter 2025 financial results. The financial results are available online at https://www.wellsfargo.com/about/investor-relations/quarterly-earnings/ and on a Form 8-K filed by the company with the Securities and Exchange Commission (SEC) on April 11, 2025, and available on the SEC's website at www.sec.gov. Conference call The company will host a live conference call on Friday, April 11, at 10:00 a.m. E.
Wells Fargo's profit rose 6% in the first quarter, driven by robust performance in its wealth management business.
The financial sector (^SP500-40) is set to kick off first quarter earnings in earnest. Morningstar senior equity analyst Suryansh Sharma joins Wealth with Brad Smith to share what he's watching for as banking results roll in.
After a rip-roaring rally yesterday, stocks resumed their sell-off today, as unrest about tariffs and U.S.-Chinese relations once again found the spotlight. The Dow Jones Industrial Average traded more than 1,100 points down in the final half-hour of trading, while the broader benchmark S&P 500 had fallen close to 3.8%.
Wall Street's biggest banks begin reporting earnings on Friday as markets deal with extreme volatility and uncertainty brought on by President Donald Trump's tariff war. David George, Baird senior bank analyst, talks about what to expect on "Bloomberg The Close.