Wells Fargo: Q4 Earnings Snapshot

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.

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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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