Investing.com - Wells Fargo &Co (NYSE:WFC) reported fourth quarter earnings that beat analysts' expectations on Tuesday and revenue that fell short of forecasts.
The firm reported earnings per share of $1.21 on revenue of $20.98B. Analysts polled by Investing.com expected EPS of $1.19 on revenue of $21.75B. That compared to EPS of $0.97 on revenue of $24.90B in the same period a year earlier. The company had reported EPS of $1.13 on revenue of $21.94B in the previous quarter.
Wells Fargo&Co shares lost 0.45% to trade at $48.20 in pre-market trade following the report.
For the year, Wells Fargo&Co shares are up 5.08%, broadly in line with the S&P 500 which is up 4.66% year to date.
Wells Fargo&Co follows other major Financial sector earnings this month
On Tuesday, JPMorgan reported fourth quarter EPS of $1.98 on revenue of $26.80B, compared to forecasts of EPS of $2.2 on revenue of $26.9B.
UnitedHealth earnings beat analyst's expectations on Tuesday, with fourth quarter EPS of $3.28 on revenue of $58.42B. Investing.com analysts expected EPS of $3.21 on revenue of $57.93B
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