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Wells Fargo reports mixed earnings results

SFGate Friday, 12 October 2018 ()
Wells Fargo & Co. reported mixed earnings Friday, with better-than-expected revenue but profit that fell short of analysts’ expectations. The San Francisco bank was one of three major U.S. banks to report earnings, and investors are watching the banks closely for signs about the health of the U.S. economy amid a week of stock-market turbulence leading up to this quarter’s earnings season. Competitors JPMorgan Chase & Co. and Citigroup Inc. both reported results that topped Wall Street estimates. Wells Fargo reported third-quarter revenue of $21.9 billion, topping analysts’ predicted revenue of $21.8 billion, which was in line with last year’s third quarter. But the bank’s earnings per share of $1.
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