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Wells Fargo's (WFC) Q4 Earnings Lag Estimates, Costs Up
Wells Fargo’s WFC fourth-quarter 2019 adjusted earnings of 93 cents per share lagged the Zacks Consensus Estimate of $1.12, on lower net interest income and rise in expenses. Results exclude litigation accruals.
Including litigation accruals (not tax-deductible) worth 33 cents per share related to certain matters, earnings came in at 60 cents per share compared with the prior-year quarter’s $1.21.
Reduced net interest income on lower rates and rise in expenses negatively impacted the results. Moreover, provisions soared. However, higher fee income, driven by improved mortgage banking business, was on the upside. Further, escalation in loans and deposits acted as tailwinds.
For the year ended 2019, earnings per share came in at $4.05, down 23 cents, year on year. The reported figure also missed the Zacks Consensus Estimate of $4.53.
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https://finance.yahoo.com/news/wells-far...03210.html
![[Bild: WFCc1dl1603.png]](https://finviz.com/publish/011720/WFCc1dl1603.png)
Wells Fargo’s WFC fourth-quarter 2019 adjusted earnings of 93 cents per share lagged the Zacks Consensus Estimate of $1.12, on lower net interest income and rise in expenses. Results exclude litigation accruals.
Including litigation accruals (not tax-deductible) worth 33 cents per share related to certain matters, earnings came in at 60 cents per share compared with the prior-year quarter’s $1.21.
Reduced net interest income on lower rates and rise in expenses negatively impacted the results. Moreover, provisions soared. However, higher fee income, driven by improved mortgage banking business, was on the upside. Further, escalation in loans and deposits acted as tailwinds.
For the year ended 2019, earnings per share came in at $4.05, down 23 cents, year on year. The reported figure also missed the Zacks Consensus Estimate of $4.53.
...
https://finance.yahoo.com/news/wells-far...03210.html
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