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SAN FRANCISCO (AP) - Wells Fargo & Co.'s third-quarter profit rose 13 percent as the bank continued to feed consumers' appetites for home mortgages and a variety of other loans — a recipe that has generated double-digit earnings growth through most of the past four years.
The San Francisco-based company said Tuesday that its net income totaled $1.98 billion, or $1.16 per share, for the three months ended in September. That compared with a profit of $1.75 billion, or $1.02 per share, a year earlier.
Revenue for the period totaled $8.5 billion, a 16 percent increase from a year earlier.
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