Notifications Bell

Mixed quarterly earnings for Wells Fargo

Mixed quarterly earnings for Wells Fargo

Its shares slumped after most figures fell short of the mark

In the past quarter, Wells Fargo reported an EPS of 64 cents per share, which was higher than the 60 cents/ share consensus.

On the other hand, both the revenues and the net interest income came below expectations. Revenue-wise, the market was looking for $18.12 billion, but the figures came in at $17.93 billion.

“Although our financial performance improved and we earned $3.0 billion in the fourth quarter, our results continued to be impacted by the unprecedented operating environment and the required work to put our substantial legacy issues behind us,” CEO Charlie Scharf stated.

Following the news, Wells Fargo stock price fell 7.80%. During the last quarter of 2020, its stock price added more than 28% as the rollout of COVID-19 vaccines and the stimulus package raised hope for an economic recovery.


This information prepared by is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.

This information is prepared for general circulation. It does not have regard to the specific investment objectives, financial situation or the particular needs of any recipient.

You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.

This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent.

Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of