Wells Fargo & Co.
Wells Fargo Announces Q3 2024 Financial Results and Conference Call Details
Summary
Wells Fargo & Company reported third-quarter 2024 net income of $5.1 billion, or $1.42 per diluted share, on total revenue of $20.4 billion. The company saw a decrease in net interest income due to higher funding costs and lower loan balances but experienced an increase in noninterest income driven by improved venture capital results and higher fees. All segments reported varying degrees of performance, with Wealth and Investment Management seeing the most growth in revenue. The company also announced it will host a live conference call on October 11, 2024, to discuss these results. Financial statements and other exhibits were furnished with this report.
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Exhibits (3)
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About Wells Fargo & Co.
Wells Fargo & Co. is a diversified financial services company providing a wide array of banking, investment, mortgage, and consumer and commercial finance services. Operating predominantly in the United States, Wells Fargo plays a crucial role in the financial market by offering retail and commercial banking, which includes savings accounts, credit and loans, and payment solutions. Known for its strong retail banking presence, Wells Fargo also extends its reach through wealth and investment management services, enabling clients to gain tailored financial advice and asset management. Beyond core banking operations, Wells Fargo’s influence spans several sectors, notably real estate and consumer finance, contributing significantly to economic development and customer liquidity accessibility. The bank's commitment to providing financial education and resources aims to empower communities and foster economic resilience. As a major player in the financial industry, Wells Fargo maintains a key position in both national and global banking landscapes, facilitating critical financial transactions and services that support a wide range of client needs.
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