Seeking Alpha2022-04-14
Wells Fargo (NYSE:WFC): Q1 GAAP EPS of $0.88 beats by $0.07.
Revenue of $17.59B (-2.6% Y/Y) misses by $230M.
Wells Fargo shares slipped 1.83% in premarket trading.
Provision for credit losses in first quarter 2022 included a $1.1 billion decrease in the allowance for credit losses predominantly due to reduced uncertainty around the economic impact of the COVID-19 pandemic on our loan portfolios, as well as a decrease in net charge-offs
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