Wells Fargo in the fourth quarter it recorded profits substantially in line with the same period of 2014, also due to the turbulence of the energy market and, in particular, to the declines in oil prices. The fourth largest US bank by assets posted a profit of $5,71 billion ($1,03 per share) versus $5,71 billion ($1,02 per share) in the same period of 2014 and more than $1,02 expected by analysts.
Revenue rose from $21,4 billion to $21,6 billion, below $21,8 billion expected by analysts. For the full year, the company posted profits of $23,03 billion ($4,15 per share) versus $23,06 billion ($4,10 per share) in 2014, while revenue increased from 84,3 billion in 2014 to 86,1 billion.
Positive fourth quarter also for Citigroup, which saw profits jump on the back of falling legal costs and rising revenue. In the three months to December, the third-largest US bank by assets reported profits of $3,34 billion ($1,02 per share) versus $344 million (6 cents per share) in the same period in 2014. Total revenues rose 3% to $18,46 billion from $17,9 billion in the same period last year.
Excluding exceptional items, earnings were $1,06 a share, just above the $1,05 expected by analysts. Adjusted revenues were $18,64 billion, better than the $17,9 billion expected by analysts. Despite the rise in profits, the stock dropped 2,93% in the pre-market on Wall Street.
As for Blackrock, the world's largest fund manager, ended 2015 with net income of $3,3 billion, up 2% from 2014 (adjusted unchanged). In the fourth quarter alone, the company achieved a net result of 861 million, an increase of 6% on the same period last year (-2% the adjusted figure). Fourth quarter adjusted earnings per share declined 1% to $4,75.
Last year, the US investment giant achieved revenues of 11,4 billion, up 3% on 2014; the same percentage change also in the fourth quarter for a turnover of 2,8 billion. Assets under management remained stable at 4.600 billion.
Blackrock will distribute to shareholders a quarterly dividend of $2,29 per share, an improvement of 5%.
“Our 2015 results show that in these times of global macro uncertainty and market volatility, Blackrock's diverse business model can generate strong results,” underlined the company's president and CEO, Laurence Fink, in a note accompanying the accounts. and consistent".
