By Stephen Nakrosis
Shares of Wells Fargo & Co. (WFC) are trading lower on the New York Stock Exchange Tuesday, after the company reported fourth-quarter results which showed a decline in profit.
At 1:07 p.m. EST, Wells Fargo stock was trading 4.13% lower at $49.96. Over 30.8 million shares had traded, above the 65-day average volume of just over 18 million.
For the quarter, Well Fargo reported revenue of $19.86 billion. In the year-ago period, the company reported revenue of $20.98 billion.
The company reported fourth-quarter net income of $2.9 billion, below the $6.06 billion it had reported in the year-ago period.
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(END) Dow Jones Newswires
January 14, 2020 13:28 ET (18:28 GMT)Copyright (c) 2020 Dow Jones & Company, Inc.