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

EARNINGS REPORT by CSIMarket

Decline in Earnings while Revenues Grew


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Wells Fargo & Company announced forth quarter 2016 operating income of $15643 millions



Revenue growth of 0.11 %, could not prevent income contraction of -4.52 % in the forth quarter 2016, compare to same quarter a year ago. Revenues were at $20.78 billions and eps at $0.96.

In comparison to previous quarter eps decreased by -6.91 % from $1.03 per share and Revenue decreased by -3.47 % from $21.52 billions.
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 -5.12 % from company's earnings, resulting in $5,244 million net income in the forth quarter 2016, a decline compare to net earnings of $5,527 millions in the corresponding period a year ago. Wells Fargo & Company shifted it's focus on improving sales in the forth quarter 2016, as a result net margin eased to 25.24%.

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 %. Looking into financial results for the fiscal year 2016, Wells Fargo & Company reported Revenues of $84.50 billions and net income of $21.83 billions.

Money Center Banks Company explained also, that Eps decreased by -3.16 % to $3.99 per share from $4.12 in the previous fiscal year, while Revenues increased by 1.05 % from $83.62 billions a year ago.

Wells Fargo & Company is expected to report next financial results on April 12, 2017.
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