Wells Fargo&Co reported fourth quarter earnings that missed analysts' expectations on Tuesday and revenue that fell short of forecasts.
The firm reported earnings per share of $0.93 on revenue of $19.86B. Analysts polled by expected EPS of $1.12 on revenue of $20.11B. That compared to EPS of $1.21 on revenue of $20.98B in the same period a year earlier. The company had reported EPS of $0.92 on revenue of $22.01B in the previous quarter.
Wells Fargo&Co shares lost 2.32% to trade at $50.90 in pre-market trade following the report.
Wells Fargo&Co follows other major Financial sector earnings this month
On Tuesday, JPMorgan reported fourth quarter EPS of $2.57 on revenue of $29.21B, compared to forecasts of EPS of $2.35 on revenue of $27.87B.
Citigroup earnings beat analysts' expectations on Tuesday, with fourth quarter EPS of $1.9 on revenue of $18.38B. analysts expected EPS of $1.82 on revenue of $17.89B
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