Wells Fargo posts higher fourth-quarter profit, helped by higher interest rates and cost cutting

Wells Fargo shares fell Friday even after fourth-quarter profit rose from a year ago, as the bank benefited from higher interest rates and cost-cutting efforts.Here's what the bank reported versus what Wall Street was expecting based on a survey of analysts by LSEG, formerly known as Refinitiv:·       Revenue: $20.48 billion vs. $20.30 billion expectedWells Fargo's stock fell 1% before the bell.Total revenue came in at $20.48 billion for the period. That's a 2% increase from the fourth quarter of 2022 when ...