09:31 AM EDT, 07/12/2024 (MT Newswires) -- (Updates to include the 2024 outlook in the fifth and sixth paragraphs.)

Wells Fargo ( WFC ) reported Q2 earnings Friday of $1.33 per diluted share, up from $1.25 a year earlier.

Analysts polled by Capital IQ expected $1.28.

Revenue for the quarter ended June 30, expressed as the sum of net interest income and total noninterest income, was $20.69 billion, up from $20.53 billion a year earlier.

Analysts surveyed by Capital IQ expected $20.23 billion.

The company said it continues to expect its 2024 net interest income to be about 7% to 9% lower than the 2023 level of $52.4 billion, and currently expects it "to be in the upper half of the range" or down 8% to 9%.

Wells Fargo ( WFC ) increased its 2024 noninterest expense guidance to about $54.0 billion from its previous outlook of about $52.6 billion.

Wells Fargo ( WFC ) shares were more than 6% lower in recent trading.

Price: 56.59, Change: -3.57, Percent Change: -5.93