Wells Fargo Profit Rises 14 Percent As Costs Fall - Presented by: The Aol. On Network

Wells Fargo & Co, the biggest U.S. mortgage lender, reported a 14 percent rise in first-quarter net profit as costs fell. The fourth-biggest U.S. bank said on Friday, net income applicable to common shareholders rose to $5.60 billion, or $1.05 per share, in the quarter ended March 31 from $4.93 billion, or 92 cents per share, a year earlier. According to Thomson Reuters I/B/E/S, analysts on average had expected Wells Fargo to earn 96 cents per share.



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