Shares of Wells Fargo & Co. slumped 2.6% in premarket trading Friday, after the bank reported fourth-quarter profit that was more than halved but topped...
Shares of Wells Fargo & Co. WFC slumped 2.6% in premarket trading Friday, after the bank reported fourth-quarter profit that was more than halved but topped expectations, while revenue fell short. Net income fell to $2.59 billion, or 67 cents a share, from $5.47 billion, or $1.38 a share, in the year-ago period. That beat above the FactSet consensus for earnings per share of 60 cents. Total revenue declined 5.7% to $19.66 billion, below the FactSet consensus of $19.
Net income fell to $2.59 billion, or 67 cents a share, from $5.47 billion, or $1.38 a share, in the year-ago period. That beat above the FactSet consensus for earnings per share of 60 cents. Total revenue declined 5.7% to $19.66 billion, below the FactSet consensus of $19.99 billion, while net interest income climbed 45.0% to $13.43 billion to top expectations of $12.97 billion.
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