Stock Groups

Wells Fargo profit rises on asset sales boost -Breaking

by Mike Robinson

[ad_1]

2/2
© Reuters. FILE PHOTO – People enter and exit Wells Fargo ATMs in Manhattan, New York on October 10, 2015. REUTERS/Eduardo Munoz

2/2

(Reuters) – Wells Fargo (NYSE:) & Co reported a rise in fourth-quarter profit on Friday, propped up by gains from the sale of its corporate trust and asset management businesses.

Fourth-largest U.S. lender reported profit of $5.8 Billion, $1.38 per Share, for the three months ending Dec. 31. This is up from $3.09 Billion, which was 66c per share a year ago.

According to Refinitiv’s IBES estimates, analysts had on average expected a profit $1.13 per shares.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information. This includes data including charts and buy/sell signal signals. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]