• Wells Fargo 3Q profit rises to $6 bln but misses estimates

    7 days ago - By Chron

    SAN FRANCISCO - Wells Fargo & Co. says third-quarter net income rose to $6.01 billion from $4.54 billion a year earlier.
    The bank, based in San Francisco, says it had earnings per share of $1.13, compared with 83 cents a year ago.
    The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.17 per share.
    The biggest U.S. mortgage lender posted revenue of $25.73 billion in the period. Its revenue net of interest expense was $21.94 billion, exceeding Street forecasts, and slightly higher than revenue of $21.8...
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  • Wells Fargo shares rise after revenue tops expectations

    7 days ago - By CNBC

    The San Francisco bank is planning big staff cuts as part of an ongoing turnaround effort.
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