NEW YORK (AP) — Wells Fargo, the nation's biggest mortgage lender, said its first-quarter profit surged 23 percent after the bank cut expenses.
Net income available to common shareholder rose to $4.93 billion from $4.02 billion a year earlier.
On a per-share basis, earnings were 92 cents, beating the 89 cents forecast by Wall Street. Revenue slipped 2 percent to $21.3 billion and missed expectations.
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