Wells Fargo & Company (NYSE: WFC) on Friday reported higher revenues and net income for the fourth quarter of 2023. Revenues also exceeded Wall Street’s expectations.
At $20.48 billion, fourth-quarter revenues were up 2% from the prior-year period and surpassed the market’s estimates. Net income moved up to $3.45 billion or $0.86 per share in Q4 from $3.16 billion or $0.75 per share in the fourth quarter of 2022.
“Although our improved 2023 results benefited from the strong economic environment and higher interest rates, our continued focus on efficiency and strong credit discipline were important contributors as well,” said Wells Fargo’s CEO Charlie Scharf.
