Wells Fargo, Bank of America and JP Morgan Chase are all due to report quarterly earnings this Friday.
Wells Fargo is expected to announce its fourth-quarter results before markets open, with analysts expecting earnings per share between $0.89-$1.04 (€0.84-€0.98) on revenue between $21.81 billion (€20.63bn) and $22.81 billion (€21.57bn).
Last time the company reported, Wells Fargo & Company generated earnings per share of $1.03 and revenues of $22.33 billion, both which were higher than consensus estimates.
JP Morgan Chase is also reporting fourth quarter results, with analyst expecting the stock to deliver $1.42 in earnings per share, representing a 7.58 per cent year-on-year increase. Revenue for the quarter is expected to be $23.87 billion.
Last quarter, JPMorgan Chase generated revenues of almost $25.51 billion and net income of $1.58/share.
Meanwhile, analysts are forecasting Bank of America’s net revenue to be $21 billion for the fourth quarter, a 7 per cent rise year-over-year. Its net income is expected to be $4.1 billion in the quarter, up from $3.1 billion in the fourth quarter of 2015.
Bank of America’s earnings per share are forecast to be $0.38, 35 per cent higher year-on-year. In the previous quarter, Bank of America reported earnings per share of $0.41.
