Wells Fargo & Co. on Friday beat analysts’ estimates for fourth-quarter profit as a rebound in U.S. economic growth encouraged more customers to take loans and the bank kept a tight lid on costs.
Profit jumped 86 percent to $5.8 billion, or $1.38 per share, flattered by a $943 million gain from the sale of some businesses and an $875 million reserve release from pandemic-related losses that did not materialize.
