Wells Fargo: Q1 Earnings Insights

Shares of Wells Fargo WFC fell 0.5% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share came in ay $0.01, which may not be comparable to the estimate of $0.36.

Revenue of $17,717,000,000 lower by 18.01% year over year, which missed the estimate of $19,350,000,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Wells Fargo hasn't issued any revenue guidance for the time being.

Conference Call Details

Date: Apr 14, 2020

Time: 09:05 AM ET

Webcast URL: https://engage.vevent.com/index.jsp?eid=3946&seid=513

Price Action

Company's 52-week high was at $54.75

52-week low: $25.11

Price action over last quarter: down 33.38%

Company Profile

Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company is split into three segments for reporting purposes: community banking; wholesale banking; and wealth and investment management. The community banking segment serves consumers and small businesses with products including deposit accounts, credit and debit cards, and student, mortgage, and home equity loans. Wholesale banking includes corporate and commercial real estate lending, asset-based lending and trade financing, merchant services, and capital markets businesses. Wealth and investment management includes advisory, brokerage, retirement, and trust services. The bulk of Wells' lending takes place in the U.S.