Wells Fargo: mixed quarterly results.
(CercleFinance.com) - It's a tricky day for major US banks.
While Bank of America's third quarter accounts were mixed, Wells Fargo did not fully meet analysts' expectations.
On Friday before Wall Street opened the group reported earnings of 4.6 billion dollars over the period, i.e. 84 cents a share, against 1.03 dollar a year ago.
Even though penalised by legal fees, earnings per share (EPS) were nevertheless in line with the consensus.
This was not the case for revenues, which fell by 2% from the previous Q3 to 21.9 billion dollars, far from the 22.4 billion dollars forecast by the consensus.
Logically, the stock is expected to fall today.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
While Bank of America's third quarter accounts were mixed, Wells Fargo did not fully meet analysts' expectations.
On Friday before Wall Street opened the group reported earnings of 4.6 billion dollars over the period, i.e. 84 cents a share, against 1.03 dollar a year ago.
Even though penalised by legal fees, earnings per share (EPS) were nevertheless in line with the consensus.
This was not the case for revenues, which fell by 2% from the previous Q3 to 21.9 billion dollars, far from the 22.4 billion dollars forecast by the consensus.
Logically, the stock is expected to fall today.
Copyright (c) 2017 CercleFinance.com. All rights reserved.