Wells Fargo & Company has reported a net income of $3.06bn, or $0.55 per diluted share, for the second quarter ended June 30, 2010, compared to $3.17bn, or $$0.57 per diluted share, for the same quarter of 2009.
Total revenue for the second quarter of 2010 declined 5% to $21.39bn from $22.51bn reported in for the corresponding quarter of 2009.
For the six months ended June 30, 2010, the company’s net income was $5.6bn, or $1.00 per diluted share, compared with $6.2bn, or $1.13 per diluted share, a year ago.
For the first half of 2010, total revenue declined 2% to $42.84bn from $43.52bn in the same half of 2009.
John Stumpf, chairman and CEO of Wells Fargo, said: “Wells Fargo’s consistent business model and strong financial performance position us to serve a key role as our nation continues to recover from the recent financial crisis and regain its economic vibrancy and leadership.
“We are encouraged by signs of continued improvement in the credit landscape. We remain confident about Wells Fargo’s future and are optimistic about America’s road to financial recovery.”