Wells Fargo fourth-quarter profit drops 50% as legal fees, low interest rates weigh on results

Wells Fargo fourth-quarter profit drops 50% as legal fees, low interest rates weigh on results

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Wells Fargo is scheduled to report fourth-quarter earnings before the market open Tuesday.
Here’s what Wall Street expects, according to Refinitiv consensus estimates:

Earnings: $1.12 per share, down 7.2% year over year
Revenue: $20.14 billion, down 4% year over year

The results, which reflect the bank’s performance for the three months ended Dec. 31, mark Wells Fargo’s first quarter…

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