Wells Fargo & Co. (WFC) reported higher first-quarter net income applicable to common stock of $4.93 billion, or $0.92 per share, compared with $4.02 billion, or $0.75 per share, last year. On average, 33 analysts polled by Thomson Reuters expected earnings per share of $0.88 for the quarter. Analysts' estimates typically exclude one-time items.
Quarterly revenue totaled $21.3 billion in first quarter 2013, compared with $21.6 billion a year earlier. Analysts estimated revenues of $21.60 billion for the quarter. Net interest income in first quarter 2013 declined $144 million on a linked-quarter basis to $10.5 billion, largely due to two fewer days compared with fourth quarter 2012, the company noted.
Looking forward, the company projects second-quarter 2013 expenses to decline from first quarter 2013 and to remain within the target efficiency range.
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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.