Investing.com - Wells Fargo&Co reported third quarter earnings that missed analyst's expectations on Friday and revenue that topped forecasts.
The firm reported earnings per share of $1.16 on revenue of $21.94B. Analysts polled by Investing.com anticipated EPS of $1.19 on revenue of $21.82B. That compared to EPS of $1.04 on revenue of $24.51B in the same period a year earlier The company had reported EPS of $0.98 on revenue of $21.55B in the previous quarter.
Wells Fargo&Co shares lost 2% to trade at $52.00 in pre-market trade following the report.
For the year, Wells Fargo&Co shares are down 15.73%, under-performing the S&P 500 which is up 1.66% year to date.
Wells Fargo&Co follows other major Financial sector earnings this month
On Friday, JPMorgan (NYSE:JPM) reported third quarter EPS of $2.34 on revenue of $27.82B, compared to forecasts of EPS of $2.27 on revenue of $27.58B.
Citigroup (NYSE:C) earnings beat analyst's expectations on Friday, with third quarter EPS of $1.73 on revenue of $18.39B. Investing.com analysts expected EPS of $1.67 on revenue of $18.45B