Wells Fargo shares rose on Wednesday after the bank reported better-than-expected earnings and issued a strong outlook for net interest income in 2025.
Here’s what banks reported compared to Wall Street expectations, based on a survey of analysts by LSEG.
Adjusted earnings per share: $1.42 vs. $1.35 expected Sales: $20.38 billion vs. $20.59 billion expected
Net income was $5.1 billion, or $1.43 per diluted common share, an increase of 47% over the year-ago period.
The San Francisco-based lender expects net interest income in 2025, a key measure of how much money banks make on loans, to be 1% to 3% higher than the $47.7 billion in 2024. said.
Wells’ stock rose nearly 2% in premarket trading Wednesday after the earnings release.
“Our strong performance this quarter caps a year of great progress for Wells Fargo,” CEO Charlie Scharf said in a statement. “Our earnings profile continues to improve, benefiting from the investments we are making to drive our growth and improve our service to our customers and communities, and we maintain a strong balance sheet. We returned approximately $25 billion in capital to shareholders and made significant progress in our risk and management efforts.”
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