Wells Fargo posts increased quarterly revenue By Reuters

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Andrew Hood
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© Reuters. Wells Fargo Financial institution department is seen in New York

(Reuters) – Wells Fargo (NYSE:) & Co reported a better quarterly revenue on Friday, as stabilizing credit score prices helped offset the hit from low-interest charges meant to prop up the ailing economic system throughout the COVID-19 pandemic.

The San Francisco-based financial institution reported internet revenue of $2.99 billion, or 64 cents per share, for the quarter ended Dec. 31, in contrast with $2.87 billion, or 60 cents per share a yr earlier.

Analysts had anticipated a revenue of 60 cents per share on common, in response to the IBES estimate from Refinitiv.

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