Wells Fargo signage on May 5th, 2021 in New York City.
Bill Tompkins | Michael Ochs Archives | Getty Images
Wells Fargo on Friday posted quarterly revenue that exceeded analysts’ expectations and a significant jump in profit.
Shares of the bank climbed about 4% following the earnings announcement.
- Earnings per share: Adjusted $1.25 per share, excluding certain items, topping the consensus estimate of $1.13 per share from Refinitiv.
- Revenue: $20.856 billion, topping consensus estimate of 18.824 billion, according to Refinitiv.
- Net income: $5.75 billion, an 86% increase from $3.09 billion a year ago.
Results were helped by a $875 million reserve release that the bank had set aside during the…