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Wells Fargo earnings Q4 2018



Wells Fargo beat fourth quarter earnings expectations and reported $ 1.21 earnings per share. Stock before the market opened Tuesday.

.16 surplus of $ 21.73 billion in revenue

Wells Fargo is still working through its regulatory problems after the Federal Reserve plans to prevent more consumer abuse in the bank It is also in the midst of a cost-saving plan, including elimination of up to 10 percent of its number. On Tuesday it said it met 2018 bills and was on its way to meeting its 2019 goal.

"We've made meaningful improvements of how v I handle risks across the company, especially operational and compliance risk, "says CEO Tim Sloan in a statement Tuesday.

For the full year 2018, Wells Fargo revenue fell by 2 percent to 86.4 billion. Dollars, while profits of DKK 22.39 billion. The USD was about 1 percent.

Investors listen to what bankers say about interest rates this year after four Federal Reserve interest rate hikes in 2018. They are also likely to seek guidance on 2019 revenue expectations given a likely decline in US economic growth. Rising short-term rates have narrowed the profits the banks are issuing on key activities such as lending, and the turnover from bond trading was poor at the end of last year.

This breaks news. Please check back for updates.


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