Wells Fargo, Net Interest Income and Cuts Guidance
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Bank of New York Mellon logged higher-than-expected earnings and revenue in the second quarter, helped by its fast-growing net interest income.
Wells Fargo beat Q2 earnings estimates with $1.60 EPS, lifted by strong fee income, while net interest income declined and guidance was lowered.
Accelleron now expects constant-currency revenue growth for the full year to range from 16% to 19%, it said. Its previous guidance called for 4% to 6%. The company maintained its 2025 guidance for operational earnings before interest, taxes and amortization margin of 25% to 26%.
This acronym stands for earnings before interest, taxes, depreciation and amortization. "EBITDA provides insight into a company's cash generation," says Shaw.
The company said Thursday that earnings before interest and taxes excluding nuclear power–a key company metric–rose 2.1% on an organic basis to 3.7 billion euros ($4.13 billion).
German chemicals maker Covestro cut its full-year forecast on Friday, citing a continuously weak global economy without signs of a short-term recovery.