JPMorgan, Wells Fargo Offer Reality Check on Profit Outlook [Yahoo! Finance News]
Wells Fargo & Company (WFC)
Last wells fargo & company earnings: 4/14 07:46 am
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Source: Yahoo! Finance News
) -- With the biggest U.S. banks facing an unprecedented economic standstill and new accounting rules, most analysts expected them to double what they set aside for bad loans a year ago.Those predictions weren’t nearly pessimistic enough.Both JPMorgan Chase & Co. and Wells Fargo & Co. posted their highest loan-loss provisions in a decade, setting aside more than $12 billion to cover defaults across the economy, but especially from credit-card borrowers and oil companies. Banks faced criticism in the last crisis for being slow to recognize the coming pain, and Tuesday’s results show they intend to avoid that this time.“This is the reality check,” Credit Suisse Group AG bank analyst Susan Katzke wrote after JPMorgan’s results. “More to come.”JPMorgan’s profit fell 69% to the lowest in more than six years, even as the firm’s traders seized on record volatility to deliver their best quarter ever. Wells Fargo posted earnings of 1 cent per share, down from $1.20 a year earlier.“If we can he
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WFC
Earnings
- 1/14/26 - Miss
WFC
Sec Filings
- 2/27/26 - Form 4
- 2/27/26 - Form 4
- 2/27/26 - Form 4
- WFC's page on the SEC website