- Wells Fargo reports a first-quarter profit of 98 cents a share, significantly beating the consensus estimate of 93 cents, according to data compiled by Bloomberg
- GAAP Net income was $5.5 billion, beating the consensus estimate of $4.9 billion.
- Net revenue came in at $21.4 billion, growing from the previous quarter and beating an estimate of $21.2 billion.
- Mortgage banking earnings of $2.8 billion were unchanged from the first quarter of 2013.
- Net interest margin fell 2 basis points to 3.46%, beating most estimates.
- The firm repurchased approximately 26.7 million shares of common stock in the quarter, lowering its share count.
JPMorgan, Wells Fargo Shuffle Riskiest $38 Billion Amid Bond Boom Buffett Buyback Math Key to Post Stress Test Bank Earnings -- Written by Antoine Gara in New York Follow @antoinegara -- Written by Antoine Gara in New York