NEW YORK – Wells Fargo, the nation's biggest mortgage lender, says its second-quarter profit edged lower.
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Net income fell to $5.36 billion from $5.42 billion a year earlier, the San Francisco-based bank said Tuesday. That's after taking out dividends for preferred stock. On a per-share basis, earnings rose to $1.03 from $1.01.
Revenue rose 1 percent, to $21.3 billion, from $21.07 billion in the same period a year earlier.
The earnings were in line with Wall Street's expectations, according to data provider FactSet. Revenue came in slightly lower than forecast.
The bank's stock fell 0.6 percent to $56.40 in premarket trading.