Investing.com – Wells Fargo &Co (NYSE:) reported on Tuesday first quarter 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 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
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