Wells Fargo (NYSE: WFC) reported Q4 EPS of $0.93, $0.19 worse than the analyst estimate of $1.12. Revenue for the quarter came in at $19.9 billion versus the consensus estimate of $20.14 billion.

• Fourth quarter 2019 financial results:
• Net income of $2.9 billion and diluted earnings per share (EPS) of $0.60
• Operating losses of $1.9 billion, driven by $1.5 billion, or ($0.33) per share, of litigation accruals for a variety of matters, including previously disclosed retail sales practices matters; a majority of the litigation accruals was not tax deductible
• Revenue of $19.9 billion, down from $21.0 billion in fourth quarter 2018
• Net interest income of $11.2 billion, down $1.4 billion
• Noninterest income of $8.7 billion, up $324 million
• Noninterest expense of $15.6 billion, up $2.3 billion primarily due to higher operating losses
• Average loans of $956.5 billion, up $10.2 billion, or 1%
• Average deposits of $1.3 trillion, up $53.0 billion, or 4%
• Credit quality:
• Provision expense of $644 million, up $123 million from fourth quarter 2018
• Net charge-offs of $769 million, up $48 million
• Net charge-offs of 0.32% of average loans (annualized), up from 0.30%
• Reserve release1 of $125 million, compared with a $200 million release in fourth quarter 2018
• Nonaccrual loans of $5.3 billion, down $1.2 billion, or 18%
• Strong capital position while returning more capital to shareholders:
• Common Equity Tier 1 ratio of 11.1%2
• Returned $9.0 billion to shareholders in fourth quarter 2019 through common stock dividends and net share repurchases, up from $8.8 billion in fourth quarter 2018
• Quarterly common stock dividend of $0.51 per share, up 19% from $0.43 per share
• Period-end common shares outstanding down 446.8 million shares, or 10%
• Full year 2019 financial results:
• Net income of $19.5 billion and diluted earnings per share (EPS) of $4.05
• Return on assets (ROA) of 1.02%, return on equity (ROE) of 10.23%, and return on average tangible common equity (ROTCE) of 12.20%

For earnings history and earnings-related data on Wells Fargo (WFC) click here.