Wells Fargo (WFC) came out with quarterly earnings of $1.42 per share, beating the Zacks Consensus Estimate of $1.34 per share. This compares to earnings of $1.29 per share a year ago.
Shares in Wells Fargo & Co (NYSE:WFC, ETR:NWT) traded 3.3% higher pre-market on Wednesday on the back of earnings that beat Wall Street predictions and CEO Charlie Scharf saying the bank is "still in the early stages" of its transformation. Adjusted earnings per share for the fourth quarter of $1.42, up 1% on the preceding quarter last year and up 66% year on year, while beating the consensus forecast of $1.35, per LSEG.
Wells Fargo (WFC) shares climbed in pre-market trading Wednesday after the bank reported fourth-quarter profit and net interest income that topped analysts' estimates.
CNBC's Leslie Picker joins 'Squawk Box' to report on the company's quarterly earnings results.
The lender expects 2025 net interest income, a key measure of what a bank makes on lending, to be 1% to 3% higher than 2024's number of $47.7 billion.
Wells Fargo's profit climbed in the fourth quarter, buoyed by stronger investment banking earnings, it said on Wednesday.
As both JPMorgan Chase & Co JPM and Wells Fargo & Co WFC prepare to release their fourth quarter earnings on Wednesday before the market opens, the spotlight's on their technicals.
Big Banks are ready to kick off earnings season. Citi (C), JPMorgan Chase (JPM), Goldman Sachs (GS), and Wells Fargo (WFC) report on Wednesday, while Bank of America (BAC) and Morgan Stanley (MS) release results on Thursday.
This week, investors can look forward to earnings from several big banks, with JPMorgan Chase (JPM), Goldman Sachs (GS), Bank of America (BAC), Wells Fargo (WFC), and more set to report. Results from large firms in the tech and health care sectors, including Taiwan Semiconductor Manufacturing Company (TSM) and UnitedHealth Group (UNH), could also attract investor attention.
Besides Wall Street's top -and-bottom-line estimates for Wells Fargo (WFC), review projections for some of its key metrics to gain a deeper understanding of how the company might have fared during the quarter ended December 2024.
WFC is set to release Q4 earnings on Jan. 15. Let's explore the factors impacting its performance and whether it's worth betting on now.
Wells Fargo has reportedly hired the former head of JPMorgan Chase's branded credit card business, Ed Olebe, to lead its own credit card business.