India, April 11 -- Financial services company Wells Fargo & Co. (WFC) reported Friday net income for the first quarter that decreased to $4.89 billion or $1.39 per share from $4.62 billion or $1.20 per share in the prior-year quarter.
On average, 17 analysts polled expected the company to report earnings of $1.23 per share for the quarter. Analysts' estimates typically exclude special items.
The provision for credit losses was $932 million, compared to last year's $938 million.
Total revenue for the quarter declined 3 percent to $20.15 billion from $20.86 billion in the same quarter last year. The Street expected revenues of $20.76 billion for the quarter.
Net interest income was $11.50 billion, down 6 percent from $12.23 billion last y...