Wells Fargo's Results Beat Expectations in First Quarterly Report After Scandal
In its first quarterly report since the scandal over fake customer accounts, Wells Fargo beat expectations.
Wells Fargo (WFC) - Get Report reported third-quarter earnings that came in better than expected, and revenue of $22.3 billion dollars also beat estimates. Wells Fargo said total average deposits also rose, as did total average loans. This earnings report is the first one since the scandal over fake customer accounts came to light. In Friday's earnings release, new CEO Tim Sloan said he is "deeply committed to restoring the trust of all our stakeholders, including customers, shareholders and community partners." Sloan became CEO earlier this week after former executive John Stumpf abruptly retired.
