Investing.com - Wells Fargo, the fourth largest U.S. bank, reported better-than-expected fourth quarter earnings, despite posting revenue figures which trailed forecasts, it announced on Tuesday.
Earlier in the day, in its fourth quarter earnings report, Wells Fargo said earnings per share came in at USD1.00, above expectations for USD0.98. The bank’s fourth quarter revenue totaled USD20.7 billion, missing estimates for revenue of USD21.9 billion.
Immediately after the earnings announcement, Wells Fargo shares fell 1.2% in trading prior to the opening bell.
Meanwhile, the outlook for U.S. equity markets was modestly upbeat. The Dow Jones Industrial Average futures indicated a gain of 0.15%, S&P 500 futures pointed to a rise of 0.2% and Nasdaq 100 futures indicated an increase of 0.15%.
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Wells Fargo beats on earnings but misses on revenue in Q4
Published 01/14/2014, 08:08 AM
Wells Fargo beats on earnings but misses on revenue in Q4
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