Wells Fargo: Fourth Quarter Earnings Overview
Wells Fargo Reports Strong Fourth-Quarter Earnings
Wells Fargo & Co., headquartered in San Francisco, announced on Wednesday that it achieved a net income of $5.36 billion for the fourth quarter.
The company reported earnings of $1.62 per share, which increased to $1.76 per share after adjusting for severance-related expenses.
These results exceeded the expectations of Wall Street analysts, as a consensus of 10 experts polled by Zacks Investment Research had forecasted earnings of $1.66 per share.
As the nation’s largest mortgage provider, Wells Fargo generated $31.56 billion in total revenue for the quarter. However, its revenue after interest expenses was $21.29 billion, which was slightly below the $21.6 billion anticipated by six Zacks analysts.
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