Wells Fargo posts higher fourth-quarter profit, helped by higher interest rates and cost cutting
Publishing timestamp: 2024-01-12 12:23:41
Summary
Wells Fargo shares fell despite an increase in fourth-quarter profit. The bank warned of lower net interest income for 2024 due to lower deposit and loan balances. However, the bank's earnings per share and revenue exceeded expectations. Provisions for credit losses also rose, but the bank remains confident in its business performance.
Sentiment: MIXED
Tickers: WFC,
Keywords: investment strategy, breaking news: business, breaking news: investing, stock markets, banks, earnings, wall street, breaking news: markets, wells fargo & co, business news, markets,
Source: https://www.cnbc.com/2024/01/12/wells-fargo-wfc-earnings-4q-2023.html