LIVE: Wells Fargo announces earnings

Wells Fargo is expected to report third quarter earnings at 8 a.m. on Wednesday.

Analysts are expecting earnings per share of $US1.04 on revenue of $US21.79 billion, according to Bloomberg.

In the same quarter last year, the bank reported adjusted earnings per share of $US1.02 on revenue of $US21.11 billion.

Last quarter, Wells missed on the top line and reported bottom-line results that were right in line with expectations, with diluted earnings per share of $US1.04 on revenue of $US21.3 billion.

“Wells Fargo’s second quarter results reflected continued strength in the fundamental drivers of long term growth,” said Chairman and CEO John Stumpf at the time.

“As the economic and interest rate environments evolved, our diversified business modelcontinued to generate strong results for shareholders.”

Goldman Sachs will report Q2 earnings on Thursday.

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