Business

Wells Fargo net interest income estimates. Thanks Higher interest rates.



Wells Fargo

Shares rose on Friday after the bank topped estimates for third-quarter revenue and net interest income amid rising interest rates.

Earnings of 85 cents a share at the San Francisco bank fell short of analysts’ estimates. Revenue of $19.5 billion topped forecasts. Analysts surveyed by FactSet expected earnings of $1.09 a share on revenue of $18.8 billion. The bank reported earnings of $1.17 a share on revenue of $18.8 billion in the same period last year.

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