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Wells Fargo
Wells Fargo profit rises, helped by loan growth
Wells Fargo profit rises, helped by loan growth

Wells Fargo said its second-quarter profit edged up 3 percent, helped by higher deposit balances and a drop in the amount of loans that went bad. Revenue slipped.  The country's largest mortgage lender said early Friday that net income rose to $5.42 billion for the three months ending in June, up from $5.27 billion a year earlier. That's after taking out dividends for preferred stock.  Revenue declined 1 percent to $21.1 billion over the year. That was better than the $20.8 billion analysts had expected, according to the data provider FactSet.  Measured for every share, quarterly earnings were $1.01, exactly what analysts had forecast.  Wells Fargo funded $47 billion worth of...

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