Wells Fargo & Company (NYSE:WFC) has a chance to mitigate what has been a less-than-ideal 2023 for its shares when the bank reports earnings before the bell Friday.
The bank is expected to post revenue of $20.16 billion and earnings of $1.22 per share, up from $18.77 billion and $0.85 per share a year earlier.
An earnings beat could go a long way to boost Well Fargo shares, which are down 4% thus far in 2023. For reference, the S&P 500 is up about 12%.
A quarter ago, Wells Fargo posted double-digit revenue growth and managed to beat earnings expectations.
Investors will be watching for management’s commentary on inflation and interest rate headwinds, as well as on what the bank is doing to lower expenses and improve efficiency.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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