Wells Fargo & Co. stock is up 0.8% in premarket trades after it beat its net income and revenue targets. Wells Fargo said its first-quarter profit rose to...
Wells Fargo & Co. WFC stock is up 0.8% in premarket trades after it beat its net income and revenue targets. Wells Fargo said its first-quarter profit rose to $4.99 billion, or $1.23 a share, from $3.79 billion, or 91 cents a share, in the year-ago period. Revenue grew to $20.73 billion from $17.73 billion. Wells Fargo was expected to earn $1.13 a share on revenue of $20.09 billion, according to estimates compiled by FactSet.
Wells Fargo said its first-quarter profit rose to $4.99 billion, or $1.23 a share, from $3.79 billion, or 91 cents a share, in the year-ago period. Revenue grew to $20.73 billion from $17.73 billion. Wells Fargo was expected to earn $1.13 a share on revenue of $20.09 billion, according to estimates compiled by FactSet. CEO Charlie Scharf said the first-quarter results were “strong” and that the bank is “glad to have been in a strong position to help support the U.S.
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