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Wells Fargo & Co (NYSE: WFC) reported a 10% rise in its fourth-quarter profit.

Wells Fargo's quarterly profit surged to $5.6 billion, or $1.00 per share.

Its revenue dropped to $20.7 billion versus $21.9 billion. However, analysts were estimating earnings of $0.98 per share on revenue of $20.69 billion.

Wells Fargo's residential mortgage originations declined to $50 billion, from $80 billion in the third quarter of 2013.

Wells Fargo shares fell 0.29% to $45.43 in pre-market trading.

Posted-In: profitEarnings News

 

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