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Wells Fargo profit jumps nearly 60% in the quarter, revenue tops expectations

gdale6
Moderator

Wells Fargo profit jumps nearly 60% in the quarter, revenue tops expectations

Wells Fargo on Thursday posted a jump in profit in the third quarter, boosted by a release of its credit loss reserves as the recovery from the pandemic accelerated in 2021.

Shares of the bank rose about 1% in premarket trading following the earnings release. Here’s how the third-quarter compared with Wall Street estimates:

 

https://www.cnbc.com/2021/10/14/wells-fargo-wfc-earnings-q3-2021.html

Message 1 of 4
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CH-7-Rebuilding
Valued Contributor

Re: Wells Fargo profit jumps nearly 60% in the quarter, revenue tops expectations


@gdale6 wrote:

Wells Fargo on Thursday posted a jump in profit in the third quarter, boosted by a release of its credit loss reserves as the recovery from the pandemic accelerated in 2021.

Shares of the bank rose about 1% in premarket trading following the earnings release. Here’s how the third-quarter compared with Wall Street estimates:

 

https://www.cnbc.com/2021/10/14/wells-fargo-wfc-earnings-q3-2021.html


With all they have done to screw consumers, why anyone would do business with them is beyond me.   They make Credit One look like upstanding citiizens and Finger Hut look like Neiman Marcus.   "Danger Will Robison."   Just say no!   (Nancy R.) 

Message 2 of 4
FinStar
Moderator

Re: Wells Fargo profit jumps nearly 60% in the quarter, revenue tops expectations


@CH-7-Rebuilding wrote:

@gdale6 wrote:

Wells Fargo on Thursday posted a jump in profit in the third quarter, boosted by a release of its credit loss reserves as the recovery from the pandemic accelerated in 2021.

Shares of the bank rose about 1% in premarket trading following the earnings release. Here’s how the third-quarter compared with Wall Street estimates:

 

https://www.cnbc.com/2021/10/14/wells-fargo-wfc-earnings-q3-2021.html


With all they have done to screw consumers, why anyone would do business with them is beyond me.   They make Credit One look like upstanding citiizens and Finger Hut look like Neiman Marcus.   "Danger Will Robison."   Just say no!   (Nancy R.) 


Historically, they're not the only financial institution that has had negative press. And, while their business practices have come under heavy regulatory scrutiny, bad PR and punitive fines, so have some of the instituions you likely do business with. WF has been prominent on the news, but other institutions have had their share of their circus runs in the past years.

 

I'm fortunate that I haven't had any issues with them for the past 20+ years and I empathize with those individuals who have had not such stellar experiences.

Message 3 of 4
4sallypat
Established Contributor

Re: Wells Fargo profit jumps nearly 60% in the quarter, revenue tops expectations

Their profits are not from me - I don't have any WF accounts anymore...

They can't use my info to open accounts.

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