Wells Fargo revealed second-quarter figures on Tuesday that detailed the firm's first quarterly loss since 2008. Please read Legal Disclaimers before using or relying on information on or available through this site. Learn More. Wells Fargo Quarterly Earnings; Wells Fargo Quarterly Earnings. Revenue of $17.93 billion fell short of the $18.127 billion forecast. Got a confidential news tip? Here's how the numbers compared with Wall Street expectations: Shares of Wells Fargo dipped 4.7% before the opening bell. Our Investor Relations site is for informational purposes only. Refer to the release for more information about forward-looking statements and to our reports filed with the SEC for some of the factors that might cause results to differ from expectations. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. The bank's earnings include a $781 million restructuring charge, a $757 million reserve release due to the sale of its student-loan portfolio and a $321 million hit due to the "impact of customer remediation accruals. Selecione Cancele para permanecer en esta página o Continúe para ver nuestra página principal en español. Seleccione el enlace si desea ver otro contenido en español. © 1999 - 2021 Wells Fargo. We do not undertake any obligation to update the information, whether as a result of new information, future events or otherwise. With the completion of the third quarter, we now expect full-year 2020 net interest income … The bank's consumer banking and lending division saw revenue decline by 5% on a year-over-year basis to $8.61 billion from $9.08 billion. Please enable JavaScript on your browser and refresh the page. Wells Fargo on Friday released mixed results for the fourth quarter, sending the bank's stock lower. Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. NMLSR ID 399801. Potential investors in our securities should seek professional advice before they invest. We are unable to contact you about your comments. Forward-looking information contained in a quarterly earnings release is subject to risks and uncertainties. Navegó a una página que no está disponible en español en este momento. Please do not enter any personal or account information in this box. When will it be time to place a long-term bet on Wells Fargo shares? Jul. We're sorry, but some features of our site require JavaScript. Fixed-income trading revenue was roughly flat from a year earlier. "We have clarified our strategic priorities and are exiting certain non-strategic businesses; and we have identified and are implementing a series of actions to improve our financial performance.". All Rights Reserved. Wells Fargo does not endorse and is not responsible for their content, links, privacy, or security policies. Visit Shareowner Services. Results : EPS of 64 cents on revenue of $17.93 billion. Wells Fargo & Co.’s profit rose 4% in the final three months of the year. The information could be out of date and no longer accurate. Earnings: 64 cents per share vs. Refinitiv estimate of 60 cents per share, Revenue: $17.93 billion vs. $18.127 billion forecast, Net interest income: $9.275 billion vs. $9.34 billion FactSet estimate. Wells Fargo reported first-quarter 2020 earnings of 1 cent per share, including a reserve build of $3.1 billion and certain other items amid coronavirus scare. Wall Street analysts see Wells Fargo reporting earnings of $0.59 per share on sales of $18.11 billion. JPMorgan's quarterly numbers, released earlier Friday, beat estimates on the top and bottom lines. Wells Fargo shares tumble 5% after posting $2.4 billion loss, dividend slashed to 10 cents Published Tue, Jul 14 2020 7:56 AM EDT Updated Tue, Jul 14 2020 12:33 PM EDT Hugh Son @hugh_son The troubled bank is set to report fourth quarter fiscal 2020 earnings results before the opening bell Friday. Wells Fargo & Co. balance sheet, income statement, cash flow, earnings & estimates, ratio and margins. Citigroup's earnings were mixed. Earnings season commences with three of the four largest U.S. banks reporting fourth-quarter 2020 results. Wells Fargo (NYSE: WFC) is scheduled to announce Q4 earnings results on Friday, January 15th, before market open. Good morning. We cannot address customer service questions here. 14, 2020, 07:06 PM. "We have prioritized and are moving forward on our risk and control buildout," Scharf said. The first nine months of 2020, our net interest income was $30.6 billion. Revenue sank 14.3% compared to the same three-month period a year ago. Get this delivered to your inbox, and more info about our products and services. Wells Fargo Earnings and Options Activity . A man walks past a Wells Fargo Bank branch on a rainy morning in Washington. Wells Fargo Earnings Estimates : Wells Fargo earnings were seen sliding 37% to 59 cents a share, with sales down 9% to $18.02 billion. JPMorgan Chase, Wells Fargo, and Citigroup will all announce earnings today. A Division of NBCUniversal. Revenue of $17.93 billion fell short of the $18.127 billion forecast. Wells Fargo reported an EPS decline of 54.7% in Q3 FY 2020. Call 1-877-840-0492 ... 2020 Earnings. Wells Fargo & Company is a leading financial services company that has approximately $1.9 trillion in assets and proudly serves one in three U.S. households and more than 10% of … Wells Fargo's fourth-quarter earnings per share of 64 cents exceeded Refinitiv's estimate of 60 cents. Charlie Scharf - CEO. Wells Fargo Q4 2020 Earnings Preview. For specific account-related questions or comments, please visit Customer Service. 8-K with revised historical financial information (PDF). We want to hear from you. Call 1-415-371-2921 Wall Street expects a year-over-year decline in earnings on lower revenues when Wells Fargo (WFC Quick Quote WFC - Free Report) reports results for the quarter ended December 2020… Shares of Wells Fargo shares rallied more than 28% in the fourth quarter as the rollout of Covid vaccines and the prospects for more fiscal stimulus raised hope for a strong economic recovery. ET) July 14, 2020, at 8 a.m. PT (11 a.m. Corporate and investment banking revenue dropped 7% year over year to $3.11 billion from $3.329 billion. Sign up for free newsletters and get more CNBC delivered to your inbox. That includes a 25% slide in equity markets trading revenue. Wells Fargo's fourth-quarter earnings per share of 64 cents exceeded Refinitiv's estimate of 60 cents. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Wells Fargo is expected to report adjusted earnings of $0.59, vs. $0.60 in the prior-year quarter, on revenue of $18.1 billion, according to … Investor Relations SAN FRANCISCO-- (BUSINESS WIRE)-- Wells Fargo & Company (NYSE: WFC), as previously announced, will report its third quarter 2020 earnings results on Wednesday, October … Revenue from its commercial banking business came in at $2.388 billion, down 18% from $2.9 billion in the year-earlier period. Data is a real-time snapshot *Data is delayed at least 15 minutes. © 2021 CNBC LLC. We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for inaccuracies or omissions in that information or for actions taken in reliance on that information. Wells Fargo & Company (NYSE:WFC) Q4 2020 Results Conference Call January 15, 2021 10:00 AM ET. It marked the fourth consecutive quarter of revenue declines. SANFRANCISCO– October 14, 2020– Wells Fargo & Company (NYSE:WFC)reported net income of $2.0 billion, or $0.42per diluted common share, for third quarter 2020, compared with net income of $4.6 billion, or $0.92 per share,for third quarter 2019, and a net loss of $2.4 billion, or $0.66 per share, for second quarter 2020. Wells Fargo Q4 2020 Earnings Call Jan 15, 2021, 10:00 a.m. Wells Fargo in February 2020 agreed to pay $3 billion to settle criminal charges and a civil action stemming from its widespread mistreatment of customers in its community bank over a 14-year period. All rights reserved. View WFC financial statements in full. Company Participants. ", "Although our financial performance improved and we earned $3.0 billion in the fourth quarter, our results continued to be impacted by the unprecedented operating environment and the required work to put our substantial legacy issues behind us," CEO Charlie Scharf said in a statement. 3Q20 net income of $2.0 billion, up $4.4 billion linked quarter (LQ) on lower provision expense and higher noninterest income on broad-based growth including higher mortgage banking income, partially offset by lower net interest income and higher noninterest expense, which included Pre-tax results were impacted by the following: – ET. Wells Fargo & Co. reported fourth-quarter earnings that were mixed, as the company continues to be hampered by the coronavirus pandemic, as well as ongoing issues at the bank. John Campbell - Director, IR. Cassidy said Wells Fargo's ongoing restructure will be a big topic in Friday's earnings report. Wells Fargo today reported earnings of roughly $3 billion, or $0.64 per diluted share, on total revenue of about $17.9 billion, beating analysts' estimates on profits but missing on revenue.. Wells Fargo to Announce Fourth Quarter 2020 Earnings on January 15, 2021 Business Wire SAN FRANCISCO -- January 7, 2021 Wells Fargo & Company (NYSE: WFC), as … More than four years after the Wells Fargo fake-accounts scandal erupted, the bank reported Friday another $321 million of quarterly losses tied to customer refunds. Q4 2020. Email investorrelations@wellsfargo.com, EQ Shareowner Services "With a more consistent broad-based recovery and as we continue to press forward with our agenda, we expect you will see that this franchise is capable of much more.". Print Information contained in a quarterly earnings release speaks only as of the date of the release. Despite the sharp gain, Wells shares still lagged those of JPMorgan Chase, which rose nearly 32% in the same time period. 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