Wells Fargo Beats Q2 Expectations on 35% Investment Banking Jump, 64% Stock Trading Surge

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Wells Fargo (WFC) reported second-quarter earnings on July 14 that beat Wall Street estimates, driven by release of its asset cap and strong performance across investment banking and trading. Net income rose 17% year-over-year to $6.41 billion, with earnings per share at $2.00, exceeding LSEG analyst consensus of $1.72. Revenue grew 9% to $22.6 billion. Investment banking fees surged 35% to $939 million, benefiting from a rebound in M&A and IPO activity. Within trading revenue, which rose 24% to $2.21 billion, equity trading soared 64% while fixed income, currencies and commodities grew 10%. Average loans increased 12% year-over-year.
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