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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