SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Wells Fargo & Co. (WFC) on Tuesday reported second-quarter earnings of $6.41 billion.
The company, based in San Francisco, said it had earnings of $2 per share. Earnings, adjusted for non-recurring gains, were $1.96 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.73 per share.
The biggest U.S. mortgage lender posted revenue of $33.59 billion in the period. Its revenue net of interest expense was $22.62 billion, also beating Street forecasts. Seven analysts surveyed by Zacks expected $21.8 billion.
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