|
|
Article: Wells Fargo 3Q Earnings Rise 4 Percent
- Article from:
- AP Online
- Article date:
- October 16, 2007
CopyrightCopyright 2007 Associated Press/AP Online. This material is published under license from the publisher through YellowBrix, Alexandria, Virginia. All inquiries regarding rights should be directed to YellowBrix. (Hide copyright information)
|
SAN FRANCISCO - Wells Fargo & Co.'s earnings grew at its slowest pace in more than six years during the third quarter, dragged down by deteriorating home loans likely to cause more trouble in the months ahead.
Despite the real estate market's rocky conditions, the fifth largest U.S. bank said Tuesday that its profit still edged up by 4 percent to $2.28 billion, or 68 cents per share, during the three months ended in September. That compared to $2.19 billion, or 64 cents per share, a year ago.
The results fell below the average earnings estimate of 70 cents per share among analysts polled by Thomson Financial.
Wells Fargo's revenue during the period improved 10 percent to $9.85 ...