Wells Fargo beats by $0.05, reports revs in-line
- Reports Q1 (Mar) earnings of $1.12 per share, $0.05 better than the Capital IQ Consensus of $1.07; revenues fell 1.4% year/year to $21.93 bln vs the $21.74 bln Capital IQ Consensus.
- Average loans of $951.0 billion, down $12.6 billion, or 1%. Net interest margin was 2.84 percent, flat compared with fourth quarter 2017.
- Efficiency Ratio of 64.9% versus 62.0% last year.
- Co reported NIM of 2.84% versus 2.84% last year