Wells Fargo Q3 net income $5.1B ($1.42 EPS), down 11% YoY; revenue $20.4B

WELLS FARGO & COMPANY/MN

2024-Q3 EPS reported $3.94

Net income fell to $5.114B from $5.767B YoY; diluted EPS $1.42 vs $1.48.
Total revenue $20.37B, down from $20.86B; net interest income pressured, fee revenue up 16% YTD.
Average loans $910.3B (-3.5% YoY); average deposits $1.34T, flat YoY.
Repurchased 62M shares for $3.5B in Q3; quarterly dividend increased 14%.
Includes $447M net losses on debt securities from investment portfolio repositioning.

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