Wells Fargo: Fourth Quarter Results Overview

Wells Fargo & Co. (WFC) reported fourth-quarter net profit of $5.75 billion on Friday.

The San Francisco-based bank said it earned $1.38 per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts polled by Zacks Investment Research was for earnings of $1.09 per share.

The largest US mortgage lender recorded revenue of $21.72 billion during the period. Its earnings net of interest expense were $20.86 billion, also beating Street’s forecast. Four analysts polled by Zacks expected $18.73 billion.

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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

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