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Wells Fargo&Co Earnings Beat, Revenue Misses In Q1

Published 04/14/2020, 07:59 AM
Updated 04/14/2020, 08:00 AM
© Reuters.  Wells Fargo&Co Earnings Beat, Revenue Misses In Q1

© Reuters. Wells Fargo&Co Earnings Beat, Revenue Misses In Q1

Investing.com - Wells Fargo &Co (NYSE:WFC) reported on Tuesday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.

Wells Fargo&Co announced earnings per share of $0.8 on revenue of $17.72B. Analysts polled by Investing.com anticipated EPS of $0.61 on revenue of $19.35B. That with comparison to EPS of $1.2 on revenue of $21.61B in the same period a year before. Wells Fargo&Co had reported EPS of $0.6 on revenue of $19.86B in the previous quarter. Analysts are expecting EPS of $0.71 and revenue of $19.24B in the upcoming quarter.

Wells Fargo&Co shares are down 41% from the beginning of the year , still down 42.59% from its 52 week high of $54.75 set on November 29, 2019. They are under-performing the S&P 500 which is down 14.89% year to date.

Wells Fargo&Co shares lost 0.48% in pre-market trade following the report.

Wells Fargo&Co follows other major Financial sector earnings this month

Wells Fargo&Co's report follows an earnings missed by JPMorgan on Tuesday, who reported EPS of $0.78 on revenue of $29.07B, compared to forecasts EPS of $2.28 on revenue of $29.53B.

First Republic Bank had beat expectations on Tuesday with first quarter EPS of $1.2 on revenue of $916.2M, compared to forecast for EPS of $1.13 on revenue of $877.17M.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar

Latest comments

Great, all companies profit dropped dramatically, but Stock Market still fly high, is there anything wrong?
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