Wells Fargo & Co. (WFC) reported a rise in fourth-quarter 2012 net income to $5.1 billion, or $0.91 per share, from last year's $4.1 billion, or $0.73 per share. Quarterly net income applicable to common stock was $4.86 billion, higher than $3.89 billion a year before. On average, 24 analysts polled by Thomson Reuters expected earnings per share of $0.89 for the quarter. Analysts' estimates typically exclude one-time items.
Revenue for the period totaled $21.95 billion, up 7 percent from $20.605 billion for 2011 fourth quarter. On a linked-quarter basis, revenue growth accelerated 14 percent (annualized), up $735 million. Analysts estimated revenues of $21.29 billion for the quarter.
However, net interest income for the quarter declined 2% to $10.64 billion, from $10.89 billion in the comparable period in 2011. On a linked-quarter basis, the company's net interest margin was down 10 basis points to 3.56 percent. The primary driver of the decline, approximately 8 basis points, was strong deposit growth of $30 billion in the quarter (12 percent annualized).
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.