Wells Fargo Reports Q2 2024 Net Income of $4.9B, EPS $1.33

WELLS FARGO & COMPANY/MN

2024-Q2 EPS reported $2.53

Revenue was $20.7B, net income $4.9B, diluted EPS $1.33 vs $1.25 a year ago.
Repurchased 100.5M shares for $6.1B in Q2; plans 14% dividend increase for Q3.
CET1 ratio improved to 11.0% from 10.7% a year ago.
Launched two new credit cards in Q2, driving higher card spend and account growth.
Average deposits grew in all business lines; commercial loan demand remained tepid.

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