Wells Fargo reported strong earnings, increase in net income, and higher investment banking fees.

From CNBC: 2025-01-15 07:20:47

Wells Fargo shares rose after reporting strong earnings and net interest income guidance for 2025. Q4 adjusted EPS beat expectations at $1.42, with revenue slightly lower at $20.38 billion. Net income was up 47% from the previous year. Investment banking fees increased 59% in Q4 to $725 million.

The bank expects 2025 net interest income to be 1-3% higher than 2024’s $47.7 billion. CEO Charlie Scharf noted progress in earnings, growth, and customer service. Wells Fargo repurchased $4.0 billion of common stock in Q4 2024, with shares up 43% in 2024 and 1.4% in January 2025.

Read more: Wells Fargo WFC earnings Q4 2024