Fri, Jan 14, 2022 4:07 AM
SAN FRANCISCO (AP) _ Wells Fargo & Co. (WFC) on Friday reported fourth-quarter earnings of $5.75 billion.
The bank, based in San Francisco, said it had earnings of $1.38 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.
The biggest U.S. mortgage lender posted revenue of $21.72 billion in the period. Its revenue net of interest expense was $20.86 billion, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $18.73 billion.
For the year, the company reported profit of $21.55 billion, or $4.95 per share. Revenue was reported as $78.49 billion.