Wells Fargo Q2 Results: Profit falls, misses estimates on deposit costs

​​Net income fell to $4.91 billion for the three months ended June 30, versus $4.94 billion, a year earlier, the lender reported on Friday. On a per shares basis, the company reported $1.33, compared to $1.25 a year earlier.

Fargo's second-quarter declined as the lender shelled out more to on to deposits amid intense competition for customers' money.

Net income fell to $4.91 billion for the three months ended June 30, versus $4.94 billion, a year earlier, the lender reported on Friday. On a per shares basis, the company reported $1.33, compared to $1.25 a year earlier.

Source: Stocks-Markets-Economic Times