Wells Fargo profit jumps on interest income boost, trading windfall

Wells Fargo reported Q2 profit up 17%, driven by strong loan growth that lifted interest income and by volatile markets supporting trading activity. The earnings beat on both credit expansion and trading desk volumes should be supportive for near-term fundamentals, though it depends on continued market volatility.

Analysis

Wells Fargo reported Q2 profit up 17%, driven by strong loan growth that lifted interest income and by volatile markets supporting trading activity. The earnings beat on both credit expansion and trading desk volumes should be supportive for near-term fundamentals, though it depends on continued market volatility.