Wells Fargo: Q4 Earnings Snapshot

January 13, 2023 GMT

SAN FRANCISCO (AP) _ Wells Fargo & Co. (WFC) on Friday reported fourth-quarter profit of $2.86 billion.

The San Francisco-based bank said it had earnings of 67 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.

The biggest U.S. mortgage lender posted revenue of $24.02 billion in the period. Its revenue net of interest expense was $19.66 billion, falling short of Street forecasts. Six analysts surveyed by Zacks expected $19.89 billion.

For the year, the company reported profit of $13.18 billion, or $3.14 per share. Revenue was reported as $73.79 billion.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WFC at https://www.zacks.com/ap/WFC