Scandal-plagued Wells Fargo reports results that edge forecasts.

Wells Fargo (WFC) reported third quarter earnings that edged expectations Friday. Shares of the scandal-plagued bank held more than 1 percent higher in premarket trade Friday following the results.

The bank posted earnings of $1.03 a share, versus the estimated $1.01 a share.

Revenue came in at $22.328 billion, versus expectations of $22.21 billion, according to the consensus of analysts polled by Reuters.

The bank said total average loans came in at $957.5 billion, up $62.4 billion, or 7 percent, from third quarter 2015. Total average deposits of $1.3 trillion, up $62.7 billion, or 5 percent from the same period last year.

The bank has been the focus of intense criticism and multiple investigations as a result of a phony bank accounts scandal, is scheduled to report its third quarter-earnings Friday morning.

The third-quarter report is the first since the accounts controversy, which has resulted in Wells Fargo paying $185 million in penalties for opening roughly 2 million consumer deposit and credit card accounts without customer authorization.



By Evelyn Cheng.
Full story at Yahoo News.