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.
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