Investing.com – Wells Fargo (NYSE:WFC), the third-largest U.S. bank, second quarter earnings and revenue ahead of Thursday’s opening bell that were in line with consensus, sending its shares lower in pre-market trade.
Wells Fargo said adjusted earnings per share came in at $1.01 in the three months ended June 30, up from $1.03 a share a year earlier and in line with expectations for adjusted earnings of $1.01 a share.
The bank’s revenue totaled $22.16 billion in the April-to-June quarter, an increase from the $21.32 billion reported in the same period in 2015, but slightly below estimates for revenue of $22.22 billion.
Traders will now turn their attention to the bank’s conference call due to start at 10:00AM ET.
Following the release of the report, shares in Wells Fargo fell $0.34, or 0.69%, in pre-market trade to trade at $48.60. The bank closed Wednesday's session with gains of 1.4% on the back of JP Morgan’s own earnings beat.
Meanwhile, U.S. equity markets remained flat after the release. The blue-chip Dow futures inched up 8 points, or 0.04%, by 12:09GMT, or 8:09AM ET, the S&P 500 futures edged forward 1 point, or 0.03%, while the tech-heavy Nasdaq 100 futures slipped less than a point, or 0.01%.