SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Wells Fargo & Co. (WFC) on Friday reported first-quarter net income of $4.89 billion.
The company, based in San Francisco, said it had earnings of $1.39 per share. Earnings, adjusted for pretax gains and non-recurring gains, were $1.27 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.23 per share.
The biggest U.S. mortgage lender posted revenue of $29.63 billion in the period. Its revenue net of interest expense was $20.15 billion, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $20.8 billion.
_____
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
Copyright © 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
