Wells Fargo (WFC) earnings Q4 2019 disappoint


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…


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