Wells Fargo results fall short of investor expectations

Wells Fargo (WFC.US) results fell short of investor expectations. Results for the fourth quarter of 2022 fell below analysts' forecasts. The bank's shares are losing nearly 5% before the opening of this week's last trading session.

Q4 results:

- Revenues: $19.66 billion vs. expectations of $19.95 billion

- EPS: $0.67 vs. expectations of $3.1

- Net interest income: $13.43 billion vs. expectations of $12.99 billion

- Provision for credit losses: $957 million vs. expectations of $860.2 million

- Fourth quarter operating loss was $3.3 billion

- Bank plans to continue share repurchase program in Q1 2023

Wells Fargo (WFC.US) shares are trading with losses ahead of the opening of today's session on Wall Street. Source: xStation 5