S&P 500 (NYSE:SPY) component Wells Fargo (NYSE:WFC) will unveil its latest earnings on Friday, January 11, 2013. Wells Fargo provides financial services in mainly wholesale banking, mortgage banking, consumer finance, equipment leasing, agricultural finance and commercial finance.
Wells Fargo Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average analyst estimate is for profit of 89 cents per share, a rise of 21.9% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved up from 88 cents. Between one and three months ago, the average estimate moved up. It has dropped from 90 cents during the last month. Analysts are projecting profit to rise by 18.8% compared to last year’s $3.35.
Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by one cent, reporting net income of 88 cents per share against a mean estimate of profit of 87 cents per share.
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A Look Back: In the third quarter, profit rose 21.8% to $4.94 billion (88 cents a share) from $4.05 billion (72 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 5.7% to $22.48 billion from $21.26 billion.