Wells Fargo (WFC) Q4 2023 earnings

Wells Fargo shares fell on Friday even after fourth-quarter earnings rose from a year ago, as the bank warned that 2024 net interest income could come in much lower year-over-year.

“As we look forward, the performance of our business remains sensitive to interest rates and the health of the U.S. economy, but we are confident that the actions we are taking will deliver stronger returns throughout the cycle,” CEO Charlie Scharf said. Earnings release. “We are monitoring credit closely, and although we see a modest deterioration, it remains consistent with our expectations.”

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