Wells Fargo Earnings Jump 25 Percent
SAN FRANCISCO (CBS/AP) -- Wells Fargo, the country's biggest mortgage lender, said it earned a record $4.9 billion in the fourth quarter, up 25 percent from the same period a year before.
Revenue rose 7 percent, to $21.9 billion, beating the $21.3 billion expected by analysts polled by FactSet.
Measured per share, earnings were 91 cents, which also beat analysts' expectations of 87 cents.
The stock fell 40 cents, about 1 percent, to $35 in pre-market trading.
(Copyright 2012 by CBS San Francisco. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
