During Wells Fargo's (WFC) earnings call Friday, an analyst flattered the company's top executives by asserting: "You're clearly an earnings machine." No one quibbled with the characterization.

Once again, the company's quarterly net income had set a record, $5.9 billion, thanks largely to expense cuts, strong credit quality, and loan growth in areas other than the mortgage business. Earnings per share, at $1.05, easily outpaced analysts' consensus expectations of 96 cents.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access