Wells Fargo: better than good?

(Boursier.com) — Wells Fargo, the California-based banking and financial group, announced on Friday an increase in its profits in the fourth quarter, supported by gains from the sale of its corporate trust and asset management businesses. The fourth-largest U.S. lender said profit rose to $5.75 billion, or $1.38 per share, for the quarter ended Dec. 31, from $3.09 billion, or 66 cents per share, a year earlier. earlier. Analysts on average had expected earnings of $1.11 per share, according to the FactSet consensus. Revenue increased to $20.86 billion from $18.49 billion a year earlier. The San Francisco banking giant thus beats the consensus in terms of revenue ($18.79 billion). The management stresses “The changes made to the company and the prospects for solid and continued economic growth”.