Investing

Wells Fargo (WFC) earnings Q4 2019 disappoint

0


Wells Fargo on Tuesday said fourth-quarter profits fell as persistent low interest rates and litigation charges weighed on its financial results.

Here’s what the bank reported vs. what analysts had expected:

  • Earnings: 93 cents per share versus $1.12 per share forecast by Refinitiv
  • Revenue: $19.86 billion versus $20.14 billion forecast by Refinitiv

Quarterly profit was $2.87 billion, compared with $6.06 billion in the year-ago period, a decline of 53%. Per-share adjusted earnings were 93 cents, well short of the $1.12 per share forecast by Refinitiv.

The company’s stock fell 4% Tuesday morning, on track for its worst day on Wall Street since August.

The bank also took a financial loss in part…



Source cnbc.com

Delta (DAL) earnings Q4 2019 beat estimates

Previous article

Despite how bank earnings go, they still lag far behind on mobile pay

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Investing