SILVER SPRING, Md. — Wells Fargo says it earned $2 billion in the third quarter, less than half of what it made in the same period last year but a significant improvement from this year’s second quarter, when it posted a loss.
The San Francisco bank said Wednesday that it earned 42 cents per share, less than the 44 cents Wall Street analysts were expecting.
Wells reported revenue of $18.86 billion in the quarter, also down from last year’s third quarter when it took in $22 billion.
Wall Street analysts had projected the bank would post $18 billion in revenue.
