Wells Fargo, the leader of the US mortgage market, following the results of the second quarter, reported on the reduction of net profit to 5 billion 190 million dollars from 5 billion 810 million dollars a year earlier. Earnings per share were 98 cents, while analysts had expected the figure at 1 dollar 12 cents per share. Quarterly revenue fell to 21 billion 550 million dollars from 22 billion 200 million dollars for the same period last year. Economists had predicted a decline in revenue to 21 billion 680 million dollars. Net interest income increased by 1% in annual terms to $12.5 billion, non-interest income decreased by 8% to $9 billion. The volume of deposits on the bank's accounts fell by 2%, the volume of loans granted - by 1%.
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
Japan’s first-quarter business spending came smaller than what was initially estimated, revised data showed on Monday. This underscored a sharper damage that the novel coronavirus pandemic had inflicted on the world’s third-biggest ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
SensorTower announced on Wednesday that Apple (AAPL) removed more than 2,500 games from the China App Store in the first week of July. The move came after the U.S. tech giant closed a loophole to comply with China’s license requirements. Apple ...
Oil prices traded lower in Asia earlier on Monday, a few days before OPEC’s technical meeting scheduled on Wednesday. Investors are expecting that OPEC would further recommend the easing of its current supply cuts in a bid to reverse ...