Wells Fargo & Co Reveals Fall In Q3 Profit, misses estimates

(RTTNews) - Wells Fargo & Co (WFC) reported earnings for third quarter that decreased from last year and missed the Street estimates.

The company's bottom line came in at $3.53 billion, or $0.85 per share. This compares with $5.12 billion, or $1.17 per share, in last year's third quarter.

Analysts on average had expected the company to earn $1.09 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.6% to $19.51 billion from $18.83 billion last year.

Wells Fargo & Co earnings at a glance (GAAP) :

-Earnings (Q3): $3.53 Bln. vs. $5.12 Bln. last year. -EPS (Q3): $0.85 vs. $1.17 last year. -Analyst Estimates: $1.09 -Revenue (Q3): $19.51 Bln vs. $18.83 Bln last year.