From RTTNews:

Truist Financial Corp. (TFC) reported a fourth quarter net loss of $5.2 billion, impacted by non-cash goodwill impairment charge, special FDIC assessment, discrete tax benefit, and restructuring charges. Adjusted net income was $1.09 billion, down 37.1% from last year. Revenue was $5.76 billion, down from $6.26 billion the previous year.

The company projects first quarter revenue to be flat to down 1% from the previous quarter, and fiscal 2024 revenue to decline 1-3%. Truist Financial shares are up 3% in pre-market trade on Thursday.

18 analysts expected the company to report profit per share of $0.89 for the quarter, excluding special items. The company missed this estimate.

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Read more: Truist Financial Q4 Adj. Profit Declines; Adj. Revenue Down 8.0% YoY