Wells Fargo reported a 22 percent increase in quarterly profit on Tuesday, helped by cost cutting.
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The bank reported 2Q profit of $1.30 per share, topping the estimate for $1.15. Revenue was $21.6 billion. The estimate was for $20.93 billion.
Wells Fargo has worked for more than two years to recover from fines and investigations into inappropriate sales practices.
In the year ago quarter, the bank reported profit $1.08 share on revenue was $21.5 billion.
In this year’s first quarter, Wells Fargo reported a profit of $1.20 share on revenue of $21.6 billion.
