Wells Fargo (WFC) earnings Q4 2020 beat estimates but revenue falls short


A man walks past a Wells Fargo Bank branch on a rainy morning in Washington.

Gary Cameron | Reuters

Wells Fargo on Friday released mixed results for the fourth quarter, sending the bank’s stock lower.

Here’s how the numbers compared with Wall Street expectations:

  • Earnings: 64 cents per share vs. Refinitiv estimate of 60 cents per share
  • Revenue: $17.93 billion vs. $18.127 billion forecast
  • Net interest income: $9.275 billion vs. $9.34 billion FactSet estimate

Shares of Wells Fargo dipped 4.7% before the opening bell.

The bank’s earnings include a $781 million restructuring charge, a $757 million reserve release due to the sale of its student-loan portfolio and a $321 million hit due to the “impact…

Source cnbc.com

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