SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Wells Fargo & Co. (WFC) on Friday reported first-quarter profit of $4.99 billion.
The San Francisco-based bank said it had earnings of $1.23 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.
The biggest U.S. mortgage lender posted revenue of $26.75 billion in the period. Its revenue net of interest expense was $20.73 billion, which also beat Street forecasts. Six analysts surveyed by Zacks expected $20.08 billion.
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