Wells Fargo Earnings: Everything You Must Know
Wells Fargo & Company (NYSE:WFC) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares closed down 0.85%.
Wells Fargo & Company Earnings Cheat Sheet
Results: Net income increased 24.18% to $5.1 billion (91 cents per diluted share) in the quarter versus a net gain of $4.11 billion in the year-earlier quarter.
Revenue: Increased 7% to $21.95 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Wells Fargo & Company reported adjusted net income of 91 cents per share. By that measure, the company beat the mean analyst estimate of $0.89. It beat the average revenue estimate of $21.29 billion…