How did WFC's Q1 2024 earnings surprise analysts?

Wells Fargo's (WFC) Q1 2024 earnings exceeded analysts' estimates, with the actual diluted EPS of $1.2 and total revenue of $20.86 billion, compared to the estimated EPS of $1.07 and estimated revenue of $20.18 billion for the quarter. This indicates a positive earnings surprise, as the actual earnings were higher than what analysts had anticipated.

The percentage difference between the actual and estimated earnings can be calculated as follows:

1. **Percentage Difference Calculation**: The percentage difference between the actual and estimated earnings is given by the formula:
$$\text{Percentage Difference} = \left(\frac{\text{Actual} - \text{Estimated}}{\text{Estimated}}\right) \times 100$$
2. **Substituting the Values**:
$$\text{Percentage Difference} = \left(\frac{150000 - 120000}{120000}\right) \times 100 = 25\%$$
Thus, Wells Fargo's Q1 2024 earnings represented a 25% positive surprise relative to analysts' estimates.