Wells Fargo: Q3 Earnings Snapshot
By AP News
Published - Oct 11, 2024, 06:57 AM ET
Last Updated - Dec 16, 2024, 06:25 PM EST
SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Wells Fargo & Co. (WFC) on Friday reported third-quarter profit of $5.11 billion.
The bank, based in San Francisco, said it had earnings of $1.42 per share. Earnings, adjusted for non-recurring costs, came to $1.52 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.27 per share.
The biggest U.S. mortgage lender posted revenue of $31.67 billion in the period. Its revenue net of interest expense was $20.37 billion, falling short of Street forecasts. Six analysts surveyed by Zacks expected $20.38 billion.
