Bank of America, Wells Fargo top Q3 expectations
The Associated Press
NEW YORK (AP) — Bank of America and Wells Fargo both topped Wall Street expectations for the quarter. Bank of America said net income rose 58% to $7.26 billion, or 85 cents a share. That topped the estimates of Wall Street analysts who were looking for earning per share of 70 cents, according to FactSet. Wells Fargo said earnings rose 59% to $5.12 billion, or $1.17 per share in the third quarter. Analysts surveyed by FactSet expected earnings per share of 98 cents.