SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Wells Fargo & Co. (WFC) on Tuesday reported third-quarter profit of $5.59 billion.
The San Francisco-based company said it had earnings of $1.66 per share. Earnings, adjusted for severance costs, came to $1.73 per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.55 per share.
The biggest U.S. mortgage lender posted revenue of $31.91 billion in the period. Its revenue net of interest expense was $21.44 billion, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $21.19 billion.
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