NEW YORK (AP) – Wells Fargo reported a slight gain in third-quarter earnings, helped by an increase in borrowing from consumers and businesses.
The San Francisco-based bank earned $5.44 billion, or $1.05 a share, for the three-month period ending in September. That compares with a $5.41 billion, or $1.02 a share, in the same period a year earlier.
The bank’s revenue rose to $21.9 billion from $21.2 billion a year earlier. Wells Fargo’s results came in mostly in line with analysts’ forecasts of earnings of $1.05 per share on $21.8 billion in revenue.
Wells Fargo’s stock fell 1 percent in pre-market trading.
