Wells Fargo beats profit estimates though struggles on expenses Hannah Levitt and Kevin Orland, Bloomberg News McCreath: 40% of S&P earnings per share growth due to U.S. banks VIDEO SIGN OUT Wells Fargo & Co. posted profit that topped analystsâ estimates, though the lender still struggled to rein in expenses, providing another reminder of the bankâs long road to getting costs under control. Net income rose to US$4.74 billion, boosted by a larger-than-expected release of loan-loss reserves, the San Francisco-based company said Wednesday. Non-interest expenses were US$14 billion, up from a year earlier and a touch higher than analysts forecast, while net interest income was lower than expected.