Wells Fargo & Corporation (WFC) is a leading financial services company with about $1.9 trillion in assets, serving one in every three U.S. families and more than 10% of small companies in the United States, and is a leading middle market banking provider in the United States. The company’s shares have gained 11% over the past month.
However, WFC's earnings and revenue fell far short of Wall Street expectations. WFC reported earnings per share of 74 cents, a 46% decline year over year. Its revenue came in at $17.03 billion, down from $20.27 billion in 2021. Analysts expected WFC to earn 83 cents per share on $17.5 billion in sales.
