Wells Fargo reports Q4 profit rise but warns of lower net interest income By Investing.com

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<p>SAN FRANCISCO – Wells Fargo &amp; Co. announced that its fourth-quarter net income rose to $3.45 billion, marking an increase from the previous year’s $3.16 billion. The bank, headquartered in San Francisco, also reported an adjusted earnings per share (EPS) of $1.29, surpassing EPS estimates. Despite the positive earnings report, the company’s stock experienced a downturn, falling by 3.3% following the earnings announcement.</p>
<p>The financial results for the quarter factored in several one-time items, including a special Federal Deposit Insurance Corporation (FDIC) assessment charge and severance costs, which were partly offset by a tax gain. Looking ahead, Wells Fargo has signaled a cautious outlook, specifically mentioning the possibility of a reduction in net interest income in the coming year. </p>
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<br /><a href="https://www.investing.com/news/stock-market-news/wells-fargo-reports-q4-profit-rise-but-warns-of-lower-net-interest-income-93CH-3274082">Source link </a></p><p>The post <a href="https://forextraderhub.com/wells-fargo-reports-q4-profit-rise-but-warns-of-lower-net-interest-income-by-investing-com.html">Wells Fargo reports Q4 profit rise but warns of lower net interest income By Investing.com</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>