Finance

Wells Fargo WFC earnings Q4 2024

Published

5 months ago

January 15, 2025

Business Finance News

A person walks past a Wells Fargo bank in New York City on November 19, 2024.

Charly Triballeau | AFP | Getty Images

Wells Fargo shares climbed Wednesday after the bank reported better-than-expected earnings and issued strong guidance on net interest income for 2025.

Here’s what the bank reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

Adjusted earnings per share: $1.42 vs. $1.35 expected
Revenue: $20.38 billion versus $20.59 billion expected

The San Francisco-based lender said it expects 2025 net interest income, a key measure of what a bank makes on loans, to be 1% to 3% higher than 2024’s number of $47.7 billion.

Shares of Wells jumped nearly 2% in premarket trading Wednesday following the release of earnings.

“Our solid performance this quarter caps a year of significant progress for Wells Fargo,” CEO Charlie Scharf said in a statement. “Our earnings profile continues to improve, we are seeing the benefit from investments we are making to increase our growth and improve how we serve our customers and communities, we maintained a strong balance sheet, we returned approximately $25 billion of capital to shareholders, and we made significant progress on our risk and control work.”

This is breaking news. Please check back for updates.