Friday, October 13, 2017

Wells Fargo Q3 Profit Tops Estimates; Revenue Down 2% YoY

Wells Fargo & Company (WFC) reported net income applicable to common stock of $4.2 billion, or $0.84 per share, for third quarter 2017, compared to $5.2 billion, or $1.03 per share, a year ago. The company noted that its third-quarter EPS of $0.84 included the impact of a discrete litigation accrual of $0.20 per share for mortgage-related regulatory investigations. On average, 28 analysts polled by Thomson Reuters expected the company to report profit per share of $1.03, for the quarter. Analysts' estimates typically exclude special items.

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