Wells Fargo publishes its third quarter 2023 report

Wells Fargo recently released its third quarter report for 2023, showing a reported net income of $5.8 billion, equal to $1.48 per diluted share. These results also encompassed $349 million, or $0.09 per share, in discrete tax benefits related to the resolution of prior period tax matters and the sale of approximately $2 billion worth of private equity investments, which had a minor impact on net income but raised the CET1 ratio by approximately 14 basis points.