Jan 15 (Reuters) - Wells Fargo & Co on Tuesday said quarterly revenue fell 5 percent, hurt by lower revenue across all of its businesses, including community banking, the unit most closely tied to a 2016 sales scandal.
Net income applicable to shareholders was $5.71 billion, or $1.21 per share, in the fourth quarter ended Dec. 31, compared with $5.74 billion, or $1.16 per share, a year earlier. reut.rs/2RUfgSg
The year-ago quarter included a $3.35 billion one-time boost related to President Donald Trump’s U.S. corporate tax overhaul.
Revenue in the latest quarter fell to $20.98 billion from $22.05 billion last year.
Analysts on average were expecting $1.19 per share, according to IBES data from Refinitiv. It was not immediately clear if the reported figures were comparable.
Reporting By Aparajita Saxena in Bengaluru, Imani Moise in New York; Editing by Bernard Orr