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Well Fargo Bank Profits Better Than Expected

Well Fargo Bank Profits Better Than Expected

Wells Fargo's third-quarter profit jumped 13 percent as a decline in revenue from mortgage lending was offset by reduced expenses and fewer secured loans. On a per-share basis, earnings were 99 cents, beating the 97 cents forecast by Wall Street. The San Francisco-based bank controls nearly a third of the U.S. mortgage market.

 

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