Investing.com - Wells Fargo&Co reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Wells Fargo&Co announced earnings per share of $0.88 on revenue of $17.59B. Analysts polled by Investing.com anticipated EPS of $0.8198 on revenue of $17.78B.
Wells Fargo&Co shares are up 1% from the beginning of the year , still down 19.50% from its 52 week high of $60.30 set on Thursday, February 10, 2022. They are outperforming the S&P 500 which is down 6.71% year to date.
Wells Fargo&Co follows other major Financial sector earnings this month
Wells Fargo&Co's report follows an earnings missed by JPMorgan on Wednesday, who reported EPS of $2.63 on revenue of $30.72B, compared to forecasts EPS of $2.7 on revenue of $30.63B.
Industrial Commercial Bank of China had beat expectations on Wednesday, March 30, 2022 with first quarter EPS of $0.7567 on revenue of $34.21B, compared to forecast for EPS of $0.5946 on revenue of $32.96B.
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