Wells Fargo & Co Profit Falls In Q1, but beats estimates

(RTTNews) - Wells Fargo & Co (WFC) reported a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $4.31 billion, or $1.20 per share. This compares with $4.71 billion, or $1.23 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.00 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 0.6% to $20.86 billion from $20.73 billion last year.

Wells Fargo & Co earnings at a glance (GAAP) :

-Earnings (Q1): $4.31 Bln. vs. $4.71 Bln. last year. -EPS (Q1): $1.20 vs. $1.23 last year. -Revenue (Q1): $20.86 Bln vs. $20.73 Bln last year.