Wells Fargo beats estimates

Wells Fargo, the consumer-focused bank that has built itself on growing mortgage sales in the years following the financial crisis, topped estimates with earnings of $US1.04.

Analyst projected an earnings per share of $US0.98 and also topped revenue expectations, with $US21.3 billion.

Still, shares of Wells Fargo dipped before the market’s open, as the company posted a rare decrease in profit.

More on Wells Fargo’s breaking news is on the way…

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