Wells Fargo profit rises 14 percent as costs fall


Credit: Reuters/Rick Wilking


The Wells Fargo bank branch is seen in Golden, Colorado October 11, 2013.


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, the fourth-biggest U.S. bank said on Friday.


Analysts on average had expected Wells Fargo to earn 96 cents per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the reported figures were comparable.


(Reporting by Anil D'Silva in Bangalore; Editing by Ted Kerr)






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