October 12, 2018 / 1:19 PM / 6 days ago

RPT-BRIEF-Wells Fargo Reports $6.0 Bln In Quarterly Net Income; Diluted EPS Of $1.13

(Repeats with no change to text)

Oct 12 (Reuters) - Wells Fargo & Co:

* WELLS FARGO REPORTS $6.0 BILLION IN QUARTERLY NET INCOME; DILUTED EPS OF $1.13

* QUARTERLY REVENUE $21.9 BILLION VERSUS $21.8 BILLION

* Q3 EARNINGS PER SHARE VIEW $1.17 -- THOMSON REUTERS I/B/E/S

* QTRLY NET INTEREST INCOME OF $12.6 BILLION, UP $123 MILLION, OR 1 PERCENT

* QTRLY MORTGAGE BANKING INCOME WAS $846 MILLION, UP FROM $770 MILLION IN Q2 2018

* QTRLY AVERAGE LOANS OF $939.5 BILLION, DOWN $12.9 BILLION, OR 1 PERCENT

* QTRLY NONINTEREST EXPENSE OF $13.8 BILLION, DOWN $588 MILLION, OR 4 PERCENT

* QTRLY RESIDENTIAL MORTGAGE LOAN ORIGINATIONS WERE $46 BILLION, DOWN FROM $50 BILLION IN Q2

* RETURN ON EQUITY OF 12.04 PERCENT AT QUARTER-END VERSUS VERSUS 10.60 PERCENT REPORTED AT Q2-END

* QTRLY NET CHARGE-OFFS DECREASED $37 MILLION TO $680 MILLION, OR 0.29 PERCENT OF AVERAGE LOANS (ANNUALIZED)

* QTRLY NONPERFORMING ASSETS DECREASED $410 MILLION, OR 5 PERCENT, FROM SECOND QUARTER 2018 TO $7.6 BILLION

* WELLS FARGO CFO JOHN SHREWSBERRY SAYS "WE SAW POSITIVE BUSINESS TRENDS IN Q3, INCLUDING GROWTH IN PRIMARY CONSUMER CHECKING CUSTOMERS"

* QTRLY NET INTEREST MARGIN WAS 2.94 PERCENT, UP 1 BASIS POINT FROM PRIOR QUARTER

* QTRLY COMMON EQUITY TIER 1 RATIO (FULLY PHASED-IN) OF 11.9 PERCENT, DOWN FROM 12.0 PERCENT IN THE PRIOR QUARTER

* Q3 RESULTS INCLUDED A $638 MILLION GAIN FROM SALES OF $1.7 BILLION OF PURCHASED CREDIT-IMPAIRED (PCI) PICK-A-PAY LOANS Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below