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Wells Fargo says its profit topped Wall Street estimates in Q4.


The bank s fourth-quarter revenue came in lower than expected.
Wells Fargo’s net interest income saw a 17% annualised decline.
Wells Fargo & Co. (NYSE: WFC) said on Friday that its profit in the fiscal fourth quarter came in better than expected. But its revenue slid more than what analysts had anticipated in Q4. The bank said that its net interest income took a hit due to COVID-19 driven lower interest rates.
Wells Fargo slid a little under 5% in premarket trading on Friday. Including the price action, the U.S. bank is now trading at £24.36 per share versus a significantly lower £15.50 per share in the last week of October. Learn more about how do people make money on the stock market. ....

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