April 13, 2018 / 12:10 PM / 9 days ago

Wells Fargo quarterly profit rises 6 percent

April 13 (Reuters) - Wells Fargo & Co on Friday said first-quarter profit rose 6 percent, helped by a lower U.S. tax rate.

Net income applicable to common stock rose to $5.53 billion, or $1.12 per share in the quarter ended March 31, from $5.23 billion, or $1.03 per share a year ago. reut.rs/2HgHNMt

Analysts on average were looking for $1.06 per share, according to Thomson Reuters I/B/E/S. It was not immediately clear if the reported figures were comparable.

Reporting By Aparajita Saxena in Bengaluru; Editing by Bernard Orr

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