$WFC Wells Fargo Q3 Earnings
EPS $1.87 Rev. $21.87B, est. $22.31B Corporate and Investment Banking rev. $5.01B Commercial Banking rev. $3.24B Investment banking fees $894M, est. $901.2M Net interest income $12.52B, est. $12.59B Net interest margin 2.43%, est. 2.41% Provision for credit losses $1.03B, est. $1.14B Non-interest expenses $13.74B, est. $13.87B Efficiency ratio 63%, est. 62.2% Net charge-offs $983M, est. $1.05B Total average deposits $1.48T, est. $1.5T Total average loans $1.03T, est. $1.04T Non-performing assets $7.36B, est. $8.04B Quarterly non-interest expense fell 1% Cites 8% cut in headcount and lower severance expense Scharf: Revenue partially offset by VC and rail car lease sale Sees Q4 net interest income about $13B, est. $12.86B Still sees FY net interest income about $50B, est. $49.92B
87 Rev. 87B, est. 31B Corporate and Investment Banking rev. 01B Commercial Banking rev.
24B Investment banking fees $894M, est. 52B, est. 43%, est. 03B, est.
74B, est. 87B Efficiency ratio 63%, est. 2% Net charge-offs $983M, est. 48T, est.
03T, est. 36B, est. 04B Quarterly non-interest expense fell 1% Cites 8% cut in headcount and lower severance expense Scharf: Revenue partially offset by VC and rail car lease sale Sees Q4 net interest income about $13B, est. 86B Still sees FY net interest income about $50B, est.
92B