Wells Fargo & Co. shares fell 3.5% in premarket trades Friday after it said its second-quarter net income declined to $3.12 billion, or 74 cents a share, from $6.04 billion, or $1.38 a share in the year-ago quarter. Excluding an impairment of 8 cents a share for its venture capital business and other items, earnings were 82 cents a share in the latest quarter. Second-quarter revenue dropped to $17.02 billion from $20.27 billion. Analysts expected Wells Fargo to earn 80 cents a share on revenue of $17.48 billion, according to FactSet estimates. “Looking ahead, our results should continue to benefit from the rising interest…
Source: Marketwatch