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Wells Fargo earnings: $1.03 per share vs $1.01 expected EPS

Wells Fargo reports earnings beat

Wells Fargo reported third quarter earnings that edged out expectations Friday. Shares of the scandal-plagued bank gave up most of their earlier gains to trade roughly even with Thursday's close.

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 the third quarter of 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.