Wells Fargo profits miss estimates on $1 bn litigation costs
Wells Fargo
New York - Egypt Today
Wells Fargo reported a sharp decline in third-quarter earnings Friday after setting aside $1 billion for litigation related to mortgage investigations.
Earnings at the US banking giant fell 20.2 percent to $4.2 billion, with the $1 billion in expenses related to previously announced mortgage-related regulatory investigations. Shares fell 1.5 percent in pre-market trading to $54.38.
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