Wells Fargo Q4 profit dropsChristian Fernsby ▼ | January 14, 2020
Wells Fargo reported that its net income applicable to common stock for fourth quarter 2019 dropped to $2.55 billion or $0.60 per share, from last year's $5.71 billion or $1.21 per share.
Wells Fargo The latest-quarter result included an impact of $1.5 billion
Topics: Wells Fargo
Revenue of $19.9 billion, down from $21.0 billion in fourth quarter 2018.
Analysts expected revenue of $20.14 billion for the quarter.
Net interest income was $11.20 billion, down from $12.64 billion last year, reflecting lower interest rate environment.
But Non-interest income was $8.7 billion, up $324 million from the prior year. ■