Wells Fargo's quarter was mixed: EPS of $1.87 beat the $1.85 expected, but revenue of $21.87B and net interest income missed. Consumer trends look strong — 14 consecutive quarters of checking-account growth — but the speaker dislikes the CFO's report of sharply slower late-September trading.

As we continue to focus on banks, today we're discussing Wells Fargo. Let's talk about this bank. Yes, as we see in the sector as a whole, the results are mixed, aren't they? Wells Fargo's results are mixed when looking at profits and revenues.

Although the CEO said that the consumer is still strong and that their consumer activity is strong, the overall results were mixed.

Earnings amounted to $1.87 per share . That was better than expected in terms of net profit. Analysts had been expecting $1.85. Revenues reached $21.87 billion. Analysts had expected $22.32 billion.

Therefore, revenues were weaker than expected. This is considered a setback in this regard. So, a slight improvement in profits, but revenue and net interest income came in below estimates.

Net interest income rose 5% to $12.52 billion, but was weaker than expected. This is the money Wells Fargo makes from loans and investments after paying interest to depositors.

It is a key metric that investors across banks often look at here.

Larger loan and investment balances, along with older fixed-price assets, helped. Which were readjusted with higher interest rates here. This was a contributing factor, but this growth was countered by lower interest rates on variable-rate assets and higher deposit costs as more business customers held interest-bearing accounts.

Consumer behavior appears to be in better shape. Overall, the CEO says consumers are spending more, defaults remain low, and deposit and investment balances have grown. In fact, with regard to retail banking, where the momentum is showing, basic checking accounts have grown year-on-year for 14 consecutive quarters.

They have added more than 650,000 credit card accounts. The assets of premium clients have increased by 10%, they say. Average consumer loans grew by 4%.

So, Wells Fargo is adding new customers, and that's a bright side. But investors are focusing more on the weaknesses, and you can see that as the stock is paring its losses slightly this morning, but it is still under pressure, extending some of the weakness we have seen so far this year at Wells Fargo.

Yes, here at 9:27 a.m., the chief financial officer of Wells Fargo said that trading activity slowed sharply in the final weeks of September, which is what you referred to. I don't necessarily like this part of the story.