Investing.com – Shares in Wells Fargo (NYSE:WFC) registered losses in pre-market trade on Friday after reporting fourth quarter earnings.
The third biggest U.S. bank by assets reported net income of $6.2 billion with diluted earnings per share (EPS) of $1.16 in the three months ended December 31.
Analysts’ forecast pointed to earnings of $1.06 a share.
Wells Fargo noted in the report that there was a $3.35 billion after-tax benefit, or $0.67 per share, from the recent U.S. tax overhaul.
Meanwhile, the company’s revenue increased 2.4% to $22.1 billion compared to the forecast for $22.35 billion.
Traders will now turn their attention to the firm’s conference call due to start at 10:00AM ET (15:00GMT).
Following the release of the report, shares fell 1.03% in pre-market trade to $62.35, from Thursday’s closing price of $63.01.
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