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Wells Fargo posts adjusted earnings of $1.56 per share, missing analysts' estimates.
Wells Fargo's Q1 adjusted earnings and revenue both missed Wall Street expectations despite year-over-year growth.
KEY POINTS
- Wealth and Investment Management revenue rose 14%, with client assets increasing 11% to $2.2 trillion.
- Home Lending revenue declined 9% due to lower loan balances and weaker mortgage servicing income.
- Markets revenue in Corporate and Investment Banking surged 19%, but commercial real estate revenue fell 21%.
COMPANIES
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