Wells Fargo today reported record diluted earnings per common share of $1.03 for the first quarter, compared with $0.88 in the first quarter of 2003, a 17 percent increase. Net income was a record $1.8 billion, up 18 percent from $1.5 billion in first quarter 2003.

 

Revenue of $7.1 billion grew 7 percent, or $465 million, from a year ago.

 

Home mortgage revenue, however, declined from $1.2 billion in the first quarter of 2003 to $0.8 billion. The company attributed the drop to the rise in interest rates late last year.

***

Send a Letter to the Editor for publication.
Send a comment or news tip to our
newsroom.
Please include the headline of the story.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top