Wells Fargo’s Latest Quarterly Revenues Explode with Gains of Nearly 60%, But There’s a Catch

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Source: Dreamstime

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The U.S. banking service provider crushed analyst estimates with a stellar quarterly performance which, however, was somewhat backed by the release of its credit loss reserves: the money meant for covering losses on loans in the event of defaults or nonpayments. The company’s stock dipped 1.6% shortly after the news.

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