Wells Fargo GAAP EPS of $1.42 beats by $0.13, revenue of $20.36B misses by $100M

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3 months ago

Wells Fargo press release (NYSE:WFC): Q3 GAAP EPS of $1.42 beats by $0.13.
$(447) million, or $(0.10) per share, of net losses on debt securities related to a repositioning of the investment securities portfolio
Revenue of $20.36B (-2.4% Y/Y) misses by $100M.
Provision for credit losses of $1,065M included a modest decrease in the allowance for credit losses, reflecting lower allowances across most loan portfolios, partially offset by a higher allowance for credit card loans driven by an increase in balances

Tags: WFC