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Wells Fargo Q4 profit drops

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Christian 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
Wells Fargo   The latest-quarter result included an impact of $1.5 billion
The latest-quarter result included an impact of $1.5 billion or $0.33 per share, of litigation accruals for a variety of matters, including previously disclosed retail sales practices matter.

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.


 

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