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 and are trading at $31.28 , down-from-52-week-high.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