Wells Fargo 2Q Earnings Pregame Scorecard

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Last quarter Wells Fargo beat estimates by 2 cents per share and it is up again on Friday, July 13, 2012.

Expectations

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Analysts currently expect Wells Fargo to come in with earnings of 81 cents per share on revenues of $21.32 billion. Analysts gave estimates ranging from 77 cents per share to 86 cents per share. Over the past three months, the average estimate has moved up from 80 cents.

Last Quarter's Results

In the first quarter, profit rose 13% to $4.25 billion (75 cents a share) from $3.76 billion (67 cents a share) the year earlier, exceeding analyst expectations. Revenue rose 3.9% to $23 billion from $22.15 billion.

Stock Ratings

Analysts are bullish on the stock as 20 analysts rate it as a buy and only one analyst rate it as a sell. Wells Fargo's average analyst rating hasn't changed over the past three months.

Stock Movement

The stock fell $2.25 per share between May 10, 2012 and May 18, 2012.

Company Fundamental Trends The impending earnings announcement offers the opportunity expand on positive earnings momentum gained over last three quarters. Net income rose 21.4% in the third quarter of the last fiscal year and 20.3% in the fourth quarter of the last fiscal year before increasing again in the first quarter. On the heels last quarter's revenue increase, the company is focused on getting back on track after snapping a string of quarters spend in the red. Before climbing in the first quarter, revenue had decreased 5.7% in the second quarter of the last fiscal year, 7.2% in the third quarter of the last fiscal year and 5.6% in the fourth quarter of the last fiscal year.

Summary

Reporting Period: 2Q

Date of Release: Friday, July 13, 2012

EPS: 81 cents

Revenue Estimate: $21.32 billion