Wells Fargo plummets 8% after posting its first quarterly loss since the financial crisis

Business Insider Tuesday, 14 July 2020 ()
Wells Fargo plummets 8% after posting its first quarterly loss since the financial crisis· *Wells Fargo revealed second-quarter figures on Tuesday that detailed the firm's first quarterly loss since 2008.*
· *The bank lost 66 cents per share, below the 33 cent estimate. Net interest income landed at $9.9 billion, missing the $10.3 billion expectation.*
· *The bank's earnings were largely dented by increased loan...
0
shares
 
Video credit: The Street - Published
News video: Wells Fargo Suffers its Worst Quarter in More Than a Decade

Wells Fargo Suffers its Worst Quarter in More Than a Decade 02:56

 Wells Fargo posts its worst quarterly loss in a decade, slashes its dividend and bumps up its war chest by close to $10 billion to tackle anticipated loan losses.