SAN FRANCISCO (dpa-AFX) - Wells Fargo & Co (WFC) reported a profit for third quarter that dropped from last year.
The company said its bottom line dropped to $4.19 billion, or $0.84 per share. This was lower than $5.24 billion, or $1.03 per share, in last year's third quarter.
Analysts had expected the company to earn $1.03 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company said revenue for the quarter fell 1.8% to $21.93 billion. This was down from $22.33 billion last year.
Wells Fargo & Co earnings at a glance:
-Earnings (Q3): $4.19 Bln. vs. $5.24 Bln. last year. -Earnings Decline (Y-o-Y): -20.0% -EPS (Q3): $0.84 vs. $1.03 last year. -EPS Decline (Y-o-Y): -18.4% -Analysts Estimate: $1.03 -Revenue (Q3): $21.93 Bln vs. $22.33 Bln last year. -Revenue Change (Y-o-Y): -1.8%
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