- Wells Fargo reports 12.8% YoY revenue growth
- JPMorgan and Citi shares drop despite a quarterly earnings beat
- GlaxoSmithKline declines three bids for Unilever
Wells Fargo reports 12.8% growth in revenues
Wells Fargo & Company (NYSE: WFC) shares have gained 20% year to date, and on Friday, the company reported strong Q4 results. The company has proven its stability, and it has offered a positive outlook for the upcoming quarter. Total revenue in Q4 2021 was up 12.8% YoY to $20.86 billion with earnings of $1.38 per share. In addition, revenue was up 6% for the full fiscal year, attributed to gains from equity securities, student lending, and asset management sales.
JPMorgan Chase up 6.15% on robust Q4 2021 results
JPMorgan Chase & Co (NYSE: JPM) delivered robust Q4 2021 results topping both revenue and EPS estimates, but shares dropped 6.15%. The solid results are attributed to the recovery of lending activities and elevated capital markets activity. Revenue was up 1% YoY to $30.3 billion, surpassing consensus estimates of $29.9 billion. Diluted EPS was $3.33, beating estimates of $3.01. net income was $10.4 billion, dropping 14% YoY because of high non-interest expense.
Citi tops revenue estimates for Q4 2021
Citigroup (NYSE: C) shares dropped 1.25% on Friday on the back of escalating expenses despite the company beating Q4 2021 results. The company reported earnings of $1.46, topping Wall Street's estimates of $1.37, representing a YoY decline of 24%. Revenue was up 1% YoY to $17 billion, surpassing estimates of $16.77 billion. The global investment bank reported a net interest margin o 1.98%
BlackRock dips on mixed Q4 results
BlackRock Inc. (NYSE: BLK) shares dropped 2.2% on Friday after the company reported mixed Q4 results. The company reported revenues of $5.11 billion, representing YoY revenue growth of 14% but missed estimates of $5.13 billion. The growth was attributed to a YoY revenue increase of 17% in administration fees, securities lending, and investment advisory. In addition, the company reported 2.4% EPS growth to $10.42 per share, beating estimates of $10.04.
GlaxoSmithKline declines three takeover bids for Unilever
GlaxoSmithKline (NYSE: GSK) has declined three unsolicited and non-binding takeover bids for Unilever Plc, its Consumer Health division. The Consumer Health business is a joint venture between GSK, a majority stake of 68%, and Pfizer Inc. (NYSE: PFE), which holds the remaining 32%. GlaxoSmithKline is a healthcare firm that creates and produces vaccines, medicines, and consumer health products. It will release its Q$ 2021 earnings on February 09, 2022.