Wells Fargo Reports Strong Q4 2024 Earnings and Positive Outlook for 2025

Wells Fargo’s Q4 2024 earnings exceeded expectations, boosting shares and providing a positive outlook for net interest income in 2025

Wells Fargo Reports Strong Q4 2024 Earnings and Positive Outlook for 2025
Wells Fargo Reports Strong Q4 2024 Earnings and Positive Outlook for 2025

San Francisco: Wells Fargo’s shares jumped on Wednesday after the bank announced earnings that beat expectations. They also shared a strong forecast for net interest income in 2025.

The bank reported adjusted earnings per share of $1.42, which was higher than the $1.35 analysts predicted. However, revenue came in at $20.38 billion, slightly below the expected $20.59 billion.

Net income reached $5.1 billion, or $1.43 per diluted share, marking a 47% increase from the same quarter last year. The bank anticipates that net interest income for 2025 will be 1% to 3% higher than the $47.7 billion reported in 2024.

Following the earnings release, Wells Fargo’s shares rose nearly 2% in premarket trading. CEO Charlie Scharf expressed pride in the bank’s performance, highlighting significant progress over the past year. He noted improvements in earnings, customer service, and a strong balance sheet, along with a $25 billion return of capital to shareholders.

This is breaking news, so stay tuned for more updates!

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