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Wells Fargo: Q4 Earnings Snapshot

SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Wells Fargo & Co. (WFC) on Wednesday reported fourth-quarter earnings of $5.08 billion.

The San Francisco-based company said it had earnings of $1.43 per share. Earnings, adjusted for one-time gains and costs, were $1.42 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.34 per share.

The biggest U.S. mortgage lender posted revenue of $30.6 billion in the period. Its revenue net of interest expense was $20.38 billion, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $20.55 billion.

For the year, the company reported profit of $19.72 billion, or $5.37 per share. Revenue was reported as $82.3 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WFC at https://www.zacks.com/ap/WFC

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