Wells Fargo earnings, revenue in line with forecast

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Wells Fargo reported quarterly earnings and revenue that were in line with analysts' expectations on Tuesday.

After the earnings announcement, the company's shares were little changed in premarket trading.

The company posted third-quarter earnings excluding items of $1.02 per share, up from 99 cents a share in the year-earlier period.

Revenue increased to $21.21 billion from $20.48 billion a year ago.

Wall Street analysts had expected Wells Fargo to deliver earnings of $1.02 a share on $21.10 billion in revenue, according to a consensus estimate from Thomson Reuters.

Tuesday marks the first day of third-quarter earnings reporting for the big banks. So far this year, shares of Wells Fargo, the fourth biggest bank by assets, have risen by 10 percent and eclipsed the growth of the S&P 500 .

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