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Wells Fargo & Company  (WFC)
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    Sector  Financial    Industry Money Center Banks
 
 

EARNINGS REPORT by CSIMarket

Revenues and Profits Increased


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Wells Fargo & Company announced first quarter 2017 operating income of $7605 millions



Wells Fargo & Company reported moderate Revenue growth of 1.36 % to $21.40 billions in the first quarter 2017, earnings grew modestly by 1.01 % to $1.00 year on year.

Revenues increased by 2.98 % from $20.78 billions in preceding period, income income improved by 4.29 % from $0.96 per share.
Wells Fargo & Company told that it's good performance came from several different businesses, Community +6.16%, Wealth Management +9.15%, while following sections logged decrease in revenues Wholesale -5.63%, Other 11.31%.
Community and Wealth Management divisions saw advancements in earnings, but growing losses in Other and the decline in profits at Wholesale segment, have cut -0.81 % from company's earnings, resulting in $5,366 million net income in the first quarter 2017, a decline compare to net earnings of $5,410 millions in the corresponding period a year ago. Wells Fargo & Company shifted it's focus on improving sales in the first quarter 2017, as a result net margin eased to 25.08%.

While following indicators decreased: Tier1 down -3.46 %, Efficiency Ratio down -1.06 %.
While following indicators decreased: Interest Margin 2.97 -5.71 %, Leverage Ratio 9.45 -0.41 %.
The Money Center Banks company, also outlined contraction in Total Capital Ratio -1.44 %.
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